Document and Entity Information
Document and Entity Information | 6 Months Ended |
Jun. 30, 2022 | |
Document and Entity Information | |
Entity Registrant Name | TotalEnergies SE |
Entity Central Index Key | 0000879764 |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2022 |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Year Focus | 2022 |
Document Fiscal Period Focus | Q2 |
CONSOLIDATED STATEMENT OF INCOM
CONSOLIDATED STATEMENT OF INCOME $ in Millions | 3 Months Ended | 6 Months Ended | |||||||
Jun. 30, 2022 USD ($) $ / shares | Jun. 30, 2022 € / shares | Mar. 31, 2022 USD ($) $ / shares | Mar. 31, 2022 € / shares | Jun. 30, 2021 USD ($) $ / shares | Jun. 30, 2021 € / shares | Jun. 30, 2022 USD ($) $ / shares | Dec. 31, 2021 USD ($) | Jun. 30, 2021 USD ($) $ / shares | |
CONSOLIDATED STATEMENT OF INCOME | |||||||||
Sales | $ 74,774 | $ 68,606 | $ 47,049 | $ 143,380 | $ 90,786 | ||||
Excise taxes | (4,329) | (4,656) | (5,416) | (8,985) | (10,520) | ||||
Revenues from sales | 70,445 | 63,950 | 41,633 | 134,395 | 80,266 | ||||
Purchases, net of inventory variation | (45,443) | (39,648) | (26,719) | (85,091) | (50,117) | ||||
Other operating expenses | (8,041) | (7,623) | (6,717) | (15,664) | (13,597) | ||||
Exploration costs | (117) | (861) | (123) | (978) | (290) | ||||
Depreciation, depletion and impairment of tangible assets and mineral interests | (3,102) | (3,679) | (3,121) | (6,781) | (6,446) | ||||
Other income | 429 | 143 | 223 | 572 | 581 | ||||
Other expense | (1,305) | (2,290) | (298) | (3,595) | (957) | ||||
Financial interest on debt | (572) | (462) | (501) | (1,034) | (967) | ||||
Financial income and expense from cash & cash equivalents | 245 | 214 | 77 | 459 | 172 | ||||
Cost of net debt | (327) | (248) | (424) | (575) | (795) | ||||
Other financial income | 231 | 203 | 265 | 434 | 374 | ||||
Other financial expense | (136) | (135) | (131) | (271) | (261) | ||||
Net income (loss) from equity affiliates | (1,546) | 43 | (680) | (1,503) | 201 | ||||
Income taxes | (5,284) | (4,804) | (1,609) | (10,088) | (3,248) | ||||
Consolidated net income | 5,804 | 5,051 | 2,299 | 10,855 | $ 10,655 | 5,711 | |||
TotalEnergies share | 5,692 | 4,944 | 2,206 | 10,636 | 5,550 | ||||
Non-controlling interests | $ 112 | $ 107 | $ 93 | $ 219 | $ 161 | ||||
Earnings per share (in dollars or Euros per share) | (per share) | $ 2.18 | € 2.03 | $ 1.87 | € 1.67 | $ 0.80 | € 0.66 | $ 4.04 | $ 2.04 | |
Fully-diluted earnings per share (in dollars or Euros per share) | (per share) | $ 2.16 | € 2.03 | $ 1.85 | € 1.65 | $ 0.80 | € 0.66 | $ 4.02 | $ 2.03 |
CONSOLIDATED STATEMENT OF COMPR
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME | |||||
Consolidated net income | $ 5,804 | $ 5,051 | $ 2,299 | $ 10,855 | $ 5,711 |
Other comprehensive income | |||||
Actuarial gains and losses | 204 | 449 | 204 | 449 | |
Change in fair value of investments in equity instruments | (20) | 3 | 56 | (17) | 68 |
Tax effect | (53) | 11 | (142) | (42) | (154) |
Currency translation adjustment generated by the parent company | (5,387) | (1,750) | 1,239 | (7,137) | (2,934) |
Items not potentially reclassifiable to profit and loss | (5,256) | (1,736) | 1,602 | (6,992) | (2,571) |
Currency translation adjustment | 2,523 | 1,012 | (746) | 3,535 | 1,777 |
Cash flow hedge | 3,222 | (263) | (424) | 2,959 | 80 |
Variation of foreign currency basis spread | 21 | 49 | (4) | 70 | (4) |
share of other comprehensive income of equity affiliates, net amount | 2,548 | (84) | (18) | 2,464 | 451 |
Other | (1) | (1) | (1) | ||
Tax effect | (1,112) | 53 | 100 | (1,059) | (57) |
Items potentially reclassifiable to profit and loss | 7,201 | 767 | (1,093) | 7,968 | 2,247 |
Total other comprehensive income (net amount) | 1,945 | (969) | 509 | 976 | (324) |
Comprehensive income | 7,749 | 4,082 | 2,808 | 11,831 | 5,387 |
TotalEnergies share | 7,705 | 3,953 | 2,670 | 11,658 | 5,212 |
Non-controlling interests | $ 44 | $ 129 | $ 138 | $ 173 | $ 175 |
CONSOLIDATED BALANCE SHEET
CONSOLIDATED BALANCE SHEET - USD ($) $ in Millions | Jun. 30, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 30, 2021 |
Non-current assets | ||||
Intangible assets, net | $ 37,020 | $ 32,504 | $ 32,484 | $ 33,359 |
Property, plant and equipment, net | 101,454 | 104,450 | 106,559 | 106,791 |
Equity affiliates : investments and loans | 28,210 | 29,334 | 31,053 | 29,712 |
Other investments | 1,383 | 1,490 | 1,625 | 2,247 |
Non-current financial assets | 1,612 | 1,490 | 2,404 | 3,778 |
Deferred income taxes | 4,737 | 5,299 | 5,400 | 6,578 |
Other non-current assets | 3,075 | 3,033 | 2,797 | 2,800 |
Total non-current assets | 177,491 | 177,600 | 182,322 | 185,265 |
Current assets | ||||
Inventories, net | 28,542 | 24,456 | 19,952 | 19,162 |
Accounts receivable, net | 30,796 | 32,000 | 21,983 | 17,192 |
Other current assets | 55,553 | 50,976 | 35,144 | 17,585 |
Current financial assets | 7,863 | 7,415 | 12,315 | 4,404 |
Cash and cash equivalents | 32,848 | 31,276 | 21,342 | 28,643 |
Assets classified as held for sale | 313 | 856 | 400 | 456 |
Total current assets | 155,915 | 146,979 | 111,136 | 87,442 |
Total assets | 333,406 | 324,579 | 293,458 | 272,707 |
Shareholders' equity | ||||
Common shares | 8,163 | 8,137 | 8,224 | 8,224 |
Paid-in surplus and retained earnings | 125,554 | 123,008 | 117,849 | 110,967 |
Currency translation adjustment | (14,019) | (13,643) | (12,671) | (11,087) |
Treasury shares | (3,010) | (1,022) | (1,666) | (8) |
Total shareholders' equity - TotalEnergies share | 116,688 | 116,480 | 111,736 | 108,096 |
Non-controlling interests | 3,309 | 3,375 | 3,263 | 2,480 |
Total shareholders' equity | 119,997 | 119,855 | 114,999 | 110,576 |
Non-current liabilities | ||||
Deferred income taxes | 12,169 | 11,281 | 10,904 | 10,596 |
Employee benefits | 2,341 | 2,610 | 2,672 | 3,305 |
Provisions and other non-current liabilities | 23,373 | 21,649 | 20,269 | 20,716 |
Non-current financial debt | 46,868 | 46,546 | 49,512 | 52,331 |
Total non-current liabilities | 84,751 | 82,086 | 83,357 | 86,948 |
Current liabilities | ||||
Accounts payable | 49,700 | 46,869 | 36,837 | 29,752 |
Other creditors and accrued liabilities | 62,498 | 56,972 | 42,800 | 27,836 |
Current borrowings | 16,003 | 18,252 | 15,035 | 16,983 |
Other current financial liabilities | 401 | 502 | 372 | 322 |
Liabilities directly associated with the assets classified as held for sale | 56 | 43 | 58 | 290 |
Total current liabilities | 128,658 | 122,638 | 95,102 | 75,183 |
Total liabilities & shareholders' equity | $ 333,406 | $ 324,579 | $ 293,458 | $ 272,707 |
CONSOLIDATED STATEMENT OF CASH
CONSOLIDATED STATEMENT OF CASH FLOW - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
CASH FLOW FROM OPERATING ACTIVITIES | |||||
Consolidated net income | $ 5,804 | $ 5,051 | $ 2,299 | $ 10,855 | $ 5,711 |
Depreciation, depletion, amortization and impairment | 3,321 | 4,578 | 3,287 | 7,899 | 6,760 |
Non-current liabilities, valuation allowances and deferred taxes | 1,427 | 2,538 | 210 | 3,965 | 331 |
(Gains) losses on disposals of assets | (165) | (13) | (85) | (178) | (370) |
Undistributed affiliates' equity earnings | 2,999 | 262 | 1,255 | 3,261 | 682 |
(Increase) decrease in working capital | 2,498 | (4,923) | 669 | (2,425) | (150) |
Other changes, net | 400 | 124 | (84) | 524 | 185 |
Cash flow from operating activities | 16,284 | 7,617 | 7,551 | 23,901 | 13,149 |
CASH FLOW USED IN INVESTING ACTIVITIES | |||||
Intangible assets and property, plant and equipment additions | (5,150) | (3,457) | (2,675) | (8,607) | (5,085) |
Acquisitions of subsidiaries, net of cash acquired | (82) | (170) | (82) | (170) | |
Investments in equity affiliates and other securities | (136) | (89) | (307) | (225) | (2,433) |
Increase in non-current loans | (278) | (241) | (380) | (519) | (680) |
Total expenditures | (5,646) | (3,787) | (3,532) | (9,433) | (8,368) |
Proceeds from disposals of intangible assets and property, plant and equipment | 153 | 177 | 45 | 330 | 271 |
Proceeds from disposals of subsidiaries, net of cash sold | 63 | 88 | 151 | 229 | |
Proceeds from disposals of non-current investments | 35 | 215 | 216 | 250 | 279 |
Repayment of non-current loans | 413 | 929 | 167 | 1,342 | 301 |
Total divestments | 664 | 1,409 | 428 | 2,073 | 1,080 |
Cash flow used in investing activities | (4,982) | (2,378) | (3,104) | (7,360) | (7,288) |
CASH FLOW USED IN FINANCING ACTIVITIES | |||||
Issuance (repayment) of shares: Parent company shareholders | 371 | 381 | 371 | 381 | |
Issuance (repayment) of shares: Treasury shares | (1,988) | (1,176) | (3,164) | (165) | |
Dividends paid: Parent company shareholders | (1,825) | (1,928) | (2,094) | (3,753) | (4,184) |
Dividends paid: Non-controlling interests | (97) | (22) | (53) | (119) | (63) |
Net issuance (repayment) of perpetual subordinated notes | (1,958) | 1,958 | 3,248 | ||
Payments on perpetual subordinated notes | (138) | (136) | (147) | (274) | (234) |
Other transactions with non-controlling interests | (10) | 5 | (5) | (55) | |
Net issuance (repayment) of non-current debt | 508 | 34 | 51 | 542 | (839) |
Increase (decrease) in current borrowings | (2,703) | 657 | (4,369) | (2,046) | (6,031) |
Increase (decrease) in current financial assets and liabilities | (731) | 5,594 | (67) | 4,863 | (215) |
Cash flow from (used in) financing activities | (8,571) | 4,986 | (6,298) | (3,585) | (8,157) |
Net increase (decrease) in cash and cash equivalents | 2,731 | 10,225 | (1,851) | 12,956 | (2,296) |
Effect of exchange rates | (1,159) | (291) | 209 | (1,450) | (329) |
Cash and cash equivalents at the beginning of the period | 31,276 | 21,342 | 30,285 | 21,342 | 31,268 |
Cash and cash equivalents at the end of the period | $ 32,848 | $ 31,276 | $ 28,643 | $ 32,848 | $ 28,643 |
CONSOLIDATED STATEMENT OF CHANG
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) $ in Millions | Shareholders' equity - TotalEnergies share | Common shares issued | Paid-in surplus and retained earnings | Currency translation adjustment | Treasury shares | Non-controlling interests | Total | |
Equity as of the beginning of the period at Dec. 31, 2020 | $ 103,702 | $ 8,267 | $ 107,078 | $ (10,256) | $ (1,387) | $ 2,383 | $ 106,085 | |
Common shares issued as of the beginning of the period at Dec. 31, 2020 | 2,653,124,025 | (24,392,703) | ||||||
Net income | 5,550 | 5,550 | 161 | 5,711 | ||||
Other comprehensive income | (338) | 485 | (823) | 14 | (324) | |||
Comprehensive income | 5,212 | 6,035 | (823) | 175 | 5,387 | |||
Dividend | (4,189) | (4,189) | (63) | (4,252) | ||||
Issuance of common shares | 381 | $ 31 | 350 | 381 | ||||
Issuance of common shares (in shares) | 10,589,713 | |||||||
Purchase of treasury shares | (165) | $ (165) | (165) | |||||
Purchase of treasury shares (in shares) | (3,636,351) | |||||||
Sale of treasury shares | [1] | (216) | $ 216 | |||||
Sale of treasury shares (in shares) | [1] | 4,570,220 | ||||||
Share-based payments | 61 | 61 | 61 | |||||
Share cancellation | $ (74) | (1,254) | $ 1,328 | |||||
Share cancellation (in shares) | (23,284,409) | 23,284,409 | ||||||
Net issuance (repayment) of perpetual subordinated notes | 3,254 | 3,254 | 3,254 | |||||
Payments on perpetual subordinated notes | (184) | (184) | (184) | |||||
Other operations with non-controlling interests | 20 | 26 | (6) | (20) | ||||
Other items | 4 | 6 | (2) | 5 | 9 | |||
Equity as of the end of the period at Jun. 30, 2021 | 108,096 | $ 8,224 | 110,967 | (11,087) | $ (8) | 2,480 | 110,576 | |
Common shares issued as of the end of the period at Jun. 30, 2021 | 2,640,429,329 | (174,425) | ||||||
Net income | 10,482 | 10,482 | 173 | 10,655 | ||||
Other comprehensive income | (1,078) | 506 | (1,584) | (44) | (1,122) | |||
Comprehensive income | 9,404 | 10,988 | (1,584) | 129 | 9,533 | |||
Dividend | (4,011) | (4,011) | (61) | (4,072) | ||||
Purchase of treasury shares | (1,658) | $ (1,658) | (1,658) | |||||
Purchase of treasury shares (in shares) | (33,669,654) | |||||||
Sale of treasury shares (in shares) | [1] | 2,975 | ||||||
Share-based payments | 82 | 82 | 82 | |||||
Payments on perpetual subordinated notes | (184) | (184) | (184) | |||||
Other operations with non-controlling interests | 4 | 4 | 709 | 713 | ||||
Other items | 3 | 3 | 6 | 9 | ||||
Equity as of the end of the period at Dec. 31, 2021 | 111,736 | $ 8,224 | 117,849 | (12,671) | $ (1,666) | 3,263 | 114,999 | |
Common shares issued as of the end of the period at Dec. 31, 2021 | 2,640,429,329 | (33,841,104) | ||||||
Net income | 5,051 | |||||||
Other comprehensive income | (969) | |||||||
Comprehensive income | 4,082 | |||||||
Equity as of the end of the period at Mar. 31, 2022 | 119,855 | |||||||
Equity as of the beginning of the period at Dec. 31, 2021 | 111,736 | $ 8,224 | 117,849 | (12,671) | $ (1,666) | 3,263 | 114,999 | |
Common shares issued as of the beginning of the period at Dec. 31, 2021 | 2,640,429,329 | (33,841,104) | ||||||
Net income | 10,636 | 10,636 | 219 | 10,855 | ||||
Other comprehensive income | 1,022 | 2,370 | (1,348) | (46) | 976 | |||
Comprehensive income | 11,658 | 13,006 | (1,348) | 173 | 11,831 | |||
Dividend | (3,803) | (3,803) | (119) | (3,922) | ||||
Issuance of common shares | 371 | $ 26 | 345 | 371 | ||||
Issuance of common shares (in shares) | 9,367,482 | |||||||
Purchase of treasury shares | (3,164) | $ (3,164) | (3,164) | |||||
Purchase of treasury shares (in shares) | (58,458,536) | |||||||
Sale of treasury shares | [1] | (315) | $ 315 | |||||
Sale of treasury shares (in shares) | [1] | 6,168,197 | ||||||
Share-based payments | 157 | 157 | 157 | |||||
Share cancellation | $ (87) | (1,418) | $ 1,505 | |||||
Share cancellation (in shares) | (30,665,526) | 30,665,526 | ||||||
Net issuance (repayment) of perpetual subordinated notes | (44) | (44) | (44) | |||||
Payments on perpetual subordinated notes | (183) | (183) | (183) | |||||
Other operations with non-controlling interests | 4 | 4 | (9) | (5) | ||||
Other items | (44) | (44) | 1 | (43) | ||||
Equity as of the end of the period at Jun. 30, 2022 | 116,688 | $ 8,163 | 125,554 | (14,019) | $ (3,010) | 3,309 | 119,997 | |
Common shares issued as of the end of the period at Jun. 30, 2022 | 2,619,131,285 | (55,465,917) | ||||||
Equity as of the beginning of the period at Mar. 31, 2022 | 119,855 | |||||||
Net income | 5,804 | |||||||
Other comprehensive income | 1,945 | |||||||
Comprehensive income | 7,749 | |||||||
Equity as of the end of the period at Jun. 30, 2022 | $ 116,688 | $ 8,163 | $ 125,554 | $ (14,019) | $ (3,010) | $ 3,309 | $ 119,997 | |
Common shares issued as of the end of the period at Jun. 30, 2022 | 2,619,131,285 | (55,465,917) | ||||||
[1] Treasury shares related to the performance share grants. |
Basis of preparation of the con
Basis of preparation of the consolidated financial statements | 6 Months Ended |
Jun. 30, 2022 | |
Basis of preparation of the consolidated financial statements | |
Basis of preparation of the consolidated financial statements | 1) Basis of preparation of the consolidated financial statements The consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union and IFRS as published by the International Accounting Standards Board (IASB). The interim consolidated financial statements of TotalEnergies SE and its subsidiaries (the Company) as of June 30, 2022, are presented in U.S. dollars and have been prepared in accordance with International Accounting Standard (IAS) 34 “Interim Financial Reporting”. The accounting principles applied for the consolidated financial statements at June 30, 2022, are consistent with those used for the financial statements at December 31, 2021. Since January 1, 2020, the Company has early adopted the amendments to IFRS 7 and IFRS 9 relating to the interest rate benchmark reform phase II. In particular, these amendments allow to maintain the hedge accounting qualification of interest rate derivatives. The preparation of financial statements in accordance with IFRS for the closing as of June 30, 2022 requires the General Management to make estimates, assumptions and judgments that affect the information reported in the Consolidated Financial Statements and the Notes thereto. These estimates, assumptions and judgments are based on historical experience and other factors believed to be reasonable at the date of preparation of the financial statements. They are reviewed on an on-going basis by General Management and therefore could be revised as circumstances change or as a result of new information. The main estimates, judgments and assumptions relate to the estimation of hydrocarbon reserves in application of the successful efforts method for the oil and gas activities, asset impairments, employee benefits, asset retirement obligations and income taxes. These estimates and assumptions are described in the Notes to the Consolidated Financial Statements as of December 31, 2021. The interim consolidated financial statements are impacted by the Russian-Ukrainian conflict described in paragraph 7 Other risks and commitments. The Company has taken this environment into account in its estimates and recorded in its accounts as of March 31, 2022, an impairment of $(4,095) million, concerning notably Arctic LNG 2. As of June 30, 2022, TotalEnergies recorded in its accounts a new $(3,513) million impairment charge related mainly to the potential impact of international sanctions on the value of its Novatek stake. Different estimates, assumptions and judgments could significantly affect the information reported, and actual results may differ from the amounts included in the Consolidated Financial Statements and the Notes thereto. Furthermore, when the accounting treatment of a specific transaction is not addressed by any accounting standard or interpretation, the General Management of the Company applies its judgment to define and apply accounting policies that provide information consistent with the general IFRS concepts: faithful representation, relevance and materiality. |
Changes in the Company structur
Changes in the Company structure | 6 Months Ended |
Jun. 30, 2022 | |
Changes in the Company structure | |
Changes in the Company structure | 2) Changes in the Company structure 2.1) Main acquisitions and divestments ● Integrated Gas, Renewables & Power ● On February 28, 2022, TotalEnergies has successfully been named a winner of maritime lease area OCS-A 0538 by the BOEM (Bureau of Ocean Energy Management) in the New York Bight auction in United States. This bid for the development of an offshore wind farm off the U.S. East Coast was won for a consideration of $795 million (100)% by both TotalEnergies and EnBW. Located up to 47 nautical miles (87 kilometers) from the coast, the lease covers a 132 square miles (341 square kilometer) area that could accommodate a generation capacity of at least 3 GW, enough to provide power to about one million homes. The project is expected to come online by 2028. ● Exploration & Production ● In January 2022, TotalEnergies has decided to initiate the contractual process of withdrawing from the Yadana field and from MGTC in Myanmar, both as operator and as shareholder, without any financial compensation for TotalEnergies. As a result, TotalEnergies registered an impairment of assets of $(201) million in operational result and of $(305) million in TotalEnergies’ share net result in the financial statements as of December 31, 2021. This withdrawal became effective on 20 July 2022. ● In February 2022, TotalEnergies announced its decision not to sanction and so to withdraw from the North Platte deepwater project in the US Gulf of Mexico. The decision not to continue with the project was taken as TotalEnergies has better opportunities of allocation of its capital within its global portfolio. An impairment of the project’s assets has been recorded in the consolidated financial statements of the first quarter of 2022, for an amount of $(957) million in net income, TotalEnergies’ share. ● In April 2022, TotalEnergies finalized the acquisition of the Atapu and Sepia pre-salt oil fields offered by Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) in the Transfer of Rights (ToR) Surplus bidding round, that took place in December 2021. The details of the acquisition are presented in Note 2.2 to the consolidated financial statements. 2.2) Major business combinations ● Exploration & Production ● Transfer of rights in the Atapu and Sepia fields in Brazil On 26 April 2022, Petrobras transferred to TotalEnergies 22.5% of the rights of the pre-salt Atapu oil field. Production started in 2020 and has reached a plateau of 160,000 barrels per day with a first Floating, Production, Storage and Offloading unit (FPSO). A second FPSO is planned to be sanctioned, which would increase the overall oil production of the field to around 350,000 b/d. On 27 April 2022, Petrobras also transferred to TotalEnergies 28% of the rights of the pre-salt Sepia oil field. Production started in 2021 and is targeting a plateau of 180,000 barrels per day with a first Floating, Production, Storage and Offloading unit (FPSO). A second FPSO is planned to be sanctioned, which would increase the overall oil production of the field to around 350,000 b/d. In accordance with IFRS 3, TotalEnergies is assessing the fair value of identifiable acquired assets, liabilities and contingent liabilities on the basis of available information. This assessment will be finalised within 12 months following the acquisition date. 2.3) Divestment projects As of June 30, 2022, there is no material divestment project recorded in “assets held for sale”. |
Business segment information
Business segment information | 6 Months Ended |
Jun. 30, 2022 | |
Business segment information | |
Business segment information | 3) Business segment information Description of the business segments Financial information by business segment is reported in accordance with the internal reporting system and shows internal segment information that is used to manage and measure the performance of TotalEnergies and which is reviewed by the main operational decision-making body of the Company, namely the Executive Committee. The operational profit and assets are broken down by business segment prior to the consolidation and inter-segment adjustments. Sales prices between business segments approximate market prices. The organization of the Company’s activities is structured around the four followings segments: - An Integrated Gas, Renewables & Power segment comprising integrated gas (including LNG) and low carbon electricity businesses. It includes the upstream and midstream LNG activity; - An Exploration & Production segment; Starting September 2021, it notably includes the carbon neutrality activity that was previously reported in the Integrated Gas, Renewables & Power segment; - A Refining & Chemicals segment constituting a major industrial hub comprising the activities of refining, petrochemicals and specialty chemicals. This segment also includes the activities of oil Supply, Trading and marine Shipping; - A Marketing & Services segment including the global activities of supply and marketing in the field of petroleum products; In addition the Corporate segment includes holdings operating and financial activities. Adjustment items Performance indicators excluding the adjustment items, such as adjusted operating income, adjusted net operating income, and adjusted net income are meant to facilitate the analysis of the financial performance and the comparison of income between periods. Adjustment items include: (i) Special items Due to their unusual nature or particular significance, certain transactions qualified as “special items” are excluded from the business segment figures. In general, special items relate to transactions that are significant, infrequent or unusual. However, in certain instances, transactions such as restructuring costs or assets disposals, which are not considered to be representative of the normal course of business, may be qualified as special items although they may have occurred within prior years or are likely to occur again within the coming years. (ii) The inventory valuation effect The adjusted results of the Refining & Chemicals and Marketing & Services segments are presented according to the replacement cost method. This method is used to assess the segments’ performance and facilitate the comparability of the segments’ performance with those of its competitors. In the replacement cost method, which approximates the LIFO (Last-In, First-Out) method, the variation of inventory values in the statement of income is, depending on the nature of the inventory, determined using either the month-end prices differential between one period and another or the average prices of the period rather than the historical value. The inventory valuation effect is the difference between the results according to the FIFO (First-In, First-Out) and the replacement cost methods. (iii) Effect of changes in fair value The effect of changes in fair value presented as adjustment items reflects for certain transactions differences between the internal measure of performance used by TotalEnergies’s management and the accounting for these transactions under IFRS. IFRS requires that trading inventories be recorded at their fair value using period end spot prices. In order to best reflect the management of economic exposure through derivative transactions, internal indicators used to measure performance include valuations of trading inventories based on forward prices. TotalEnergies, in its trading activities, enters into storage contracts, whose future effects are recorded at fair value in the Company’s internal economic performance. IFRS precludes recognition of this fair value effect. Furthermore, TotalEnergies enters into derivative instruments to risk manage certain operational contracts or assets. Under IFRS, these derivatives are recorded at fair value while the underlying operational transactions are recorded as they occur. Internal indicators defer the fair value on derivatives to match with the transaction occurrence. The adjusted results (adjusted operating income, adjusted net operating income, adjusted net income) are defined as replacement cost results, adjusted for special items and the effect of changes in fair value. 3.1) Information by business segment 1 st half 2022 Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 22,575 4,672 66,069 50,056 8 - 143,380 Intersegment sales 3,360 27,623 22,062 983 133 (54,161) - Excise taxes - - (378) (8,607) - - (8,985) Revenues from sales 25,935 32,295 87,753 42,432 141 (54,161) 134,395 Operating expenses (22,629) (11,468) (80,653) (40,294) (850) 54,161 (101,733) Depreciation, depletion and impairment of tangible assets and mineral interests (648) (4,773) (769) (514) (77) - (6,781) Operating income 2,658 16,054 6,331 1,624 (786) - 25,881 Net income (loss) from equity affiliates and other items (1,677) (3,426) 505 56 179 - (4,363) Tax on net operating income (554) (7,739) (1,391) (521) 97 - (10,108) Net operating income 427 4,889 5,445 1,159 (510) - 11,410 Net cost of net debt (555) Non-controlling interests (219) Net income - TotalEnergies share 10,636 1 st half 2022 (adjustments) (a) Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales (3) - - - - - (3) Intersegment sales - - - - - - - Excise taxes - - - - - - - Revenues from sales (3) - - - - - (3) Operating expenses (723) (873) 1,722 641 (433) - 334 Depreciation, depletion and impairment of tangible assets and mineral interests (14) (539) - (33) (9) - (595) Operating income (b) (740) (1,412) 1,722 608 (442) - (264) Net income (loss) from equity affiliates and other items (4,497) (3,770) 169 (7) 106 - (7,999) Tax on net operating income 58 337 (326) (180) 98 - (13) Net operating income (b) (5,179) (4,845) 1,565 421 (238) - (8,276) Net cost of net debt 193 Non-controlling interests (54) Net income - TotalEnergies share (8,137) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect - On operating income - - 1,722 684 - - On net operating income - - 1,597 503 - 1 st half 2022 (adjusted) Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 22,578 4,672 66,069 50,056 8 - 143,383 Intersegment sales 3,360 27,623 22,062 983 133 (54,161) - Excise taxes - - (378) (8,607) - - (8,985) Revenues from sales 25,938 32,295 87,753 42,432 141 (54,161) 134,398 Operating expenses (21,906) (10,595) (82,375) (40,935) (417) 54,161 (102,067) Depreciation, depletion and impairment of tangible assets and mineral interests (634) (4,234) (769) (481) (68) - (6,186) Adjusted operating income 3,398 17,466 4,609 1,016 (344) - 26,145 Net income (loss) from equity affiliates and other items 2,820 344 336 63 73 - 3,636 Tax on net operating income (612) (8,076) (1,065) (341) (1) - (10,095) Adjusted net operating income 5,606 9,734 3,880 738 (272) - 19,686 Net cost of net debt (748) Non-controlling interests (165) Adjusted net income - TotalEnergies share 18,773 1 st half 2022 Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total Total expenditures 2,311 6,099 561 428 34 9,433 Total divestments 1,481 346 83 151 12 2,073 Cash flow from operating activities 4,285 14,536 4,633 1,478 (1,031) 23,901 1 st half 2021 Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 10,588 3,257 40,054 36,880 7 - 90,786 Intersegment sales 1,555 14,433 11,890 186 68 (28,132) - Excise taxes - - (630) (9,890) - - (10,520) Revenues from sales 12,143 17,690 51,314 27,176 75 (28,132) 80,266 Operating expenses (10,321) (7,352) (48,579) (25,510) (374) 28,132 (64,004) Depreciation, depletion and impairment of tangible assets and mineral interests (762) (4,317) (787) (526) (54) - (6,446) Operating income 1,060 6,021 1,948 1,140 (353) - 9,816 Net income (loss) from equity affiliates and other items 682 (973) 211 23 (5) - (62) Tax on net operating income (157) (2,375) (561) (352) 54 - (3,391) Net operating income 1,585 2,673 1,598 811 (304) - 6,363 Net cost of net debt (652) Non-controlling interests (161) Net income - TotalEnergies share 5,550 1 st half 2021 (adjustments) (a) Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales (44) - - - - - (44) Intersegment sales - - - - - - - Excise taxes - - - - - - - Revenues from sales (44) - - - - - (44) Operating expenses (62) (23) 1,131 213 - - 1,259 Depreciation, depletion and impairment of tangible assets and mineral interests (148) - (13) - - - (161) Operating income (b) (254) (23) 1,118 213 - - 1,054 Net income (loss) from equity affiliates and other items (96) (1,482) 28 (43) (62) - (1,655) Tax on net operating income 59 (10) (302) (60) 2 - (311) Net operating income (b) (291) (1,515) 844 110 (60) - (912) Net cost of net debt 10 Non-controlling interests (14) Net income - TotalEnergies share (916) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect - On operating income - - 1,140 206 - - On net operating income - - 937 148 - 1 st half 2021 (adjusted) Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 10,632 3,257 40,054 36,880 7 - 90,830 Intersegment sales 1,555 14,433 11,890 186 68 (28,132) - Excise taxes - - (630) (9,890) - - (10,520) Revenues from sales 12,187 17,690 51,314 27,176 75 (28,132) 80,310 Operating expenses (10,259) (7,329) (49,710) (25,723) (374) 28,132 (65,263) Depreciation, depletion and impairment of tangible assets and mineral interests (614) (4,317) (774) (526) (54) - (6,285) Adjusted operating income 1,314 6,044 830 927 (353) - 8,762 Net income (loss) from equity affiliates and other items 778 509 183 66 57 - 1,593 Tax on net operating income (216) (2,365) (259) (292) 52 - (3,080) Adjusted net operating income 1,876 4,188 754 701 (244) - 7,275 Net cost of net debt (662) Non-controlling interests (147) Adjusted net income - TotalEnergies share 6,466 1 st half 2021 Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total Total expenditures 4,187 3,195 578 360 48 8,368 Total divestments 452 374 129 107 18 1,080 Cash flow from operating activities 1,347 8,571 3,228 1,102 (1,099) 13,149 2 nd quarter 2022 Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 10,281 2,521 35,061 26,907 4 - 74,774 Intersegment sales 1,889 13,805 12,785 716 70 (29,265) - Excise taxes - - (186) (4,143) - - (4,329) Revenues from sales 12,170 16,326 47,660 23,480 74 (29,265) 70,445 Operating expenses (10,997) (5,760) (43,242) (22,310) (557) 29,265 (53,601) Depreciation, depletion and impairment of tangible assets and mineral interests (327) (2,112) (389) (241) (33) - (3,102) Operating income 846 8,454 4,029 929 (516) - 13,742 Net income (loss) from equity affiliates and other items 823 (3,668) 349 98 71 - (2,327) Tax on net operating income (260) (3,876) (866) (296) (8) - (5,306) Net operating income 1,409 910 3,512 731 (453) - 6,109 Net cost of net debt (305) Non-controlling interests (112) Net income - TotalEnergies share 5,692 2 nd quarter 2022 (adjustments) (a) Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales (15) - - - - - (15) Intersegment sales - - - - - - - Excise taxes - - - - - - - Revenues from sales (15) - - - - - (15) Operating expenses (606) (82) 775 373 (301) - 159 Depreciation, depletion and impairment of tangible assets and mineral interests (14) (46) - (4) - - (64) Operating income (b) (635) (128) 775 369 (301) - 80 Net income (loss) from equity affiliates and other items (558) (3,756) 52 (4) - - (4,266) Tax on net operating income 47 75 (75) (100) 78 - 25 Net operating income (b) (1,146) (3,809) 752 265 (223) - (4,161) Net cost of net debt 80 Non-controlling interests (23) Net income - TotalEnergies share (4,104) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect - On operating income - - 775 376 - - On net operating income - - 752 275 - 2 nd quarter 2022 (adjusted) Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 10,296 2,521 35,061 26,907 4 - 74,789 Intersegment sales 1,889 13,805 12,785 716 70 (29,265) - Excise taxes - - (186) (4,143) - - (4,329) Revenues from sales 12,185 16,326 47,660 23,480 74 (29,265) 70,460 Operating expenses (10,391) (5,678) (44,017) (22,683) (256) 29,265 (53,760) Depreciation, depletion and impairment of tangible assets and mineral interests (313) (2,066) (389) (237) (33) - (3,038) Adjusted operating income 1,481 8,582 3,254 560 (215) - 13,662 Net income (loss) from equity affiliates and other items 1,381 88 297 102 71 - 1,939 Tax on net operating income (307) (3,951) (791) (196) (86) - (5,331) Adjusted net operating income 2,555 4,719 2,760 466 (230) - 10,270 Net cost of net debt (385) Non-controlling interests (89) Adjusted net income - TotalEnergies share 9,796 2 nd quarter 2022 Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total Total expenditures 872 4,128 333 288 25 5,646 Total divestments 466 63 56 72 7 664 Cash flow from operating activities 3,970 8,768 3,526 580 (560) 16,284 2 nd quarter 2021 Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 5,086 1,743 20,853 19,367 - - 47,049 Intersegment sales 744 7,855 6,369 108 39 (15,115) - Excise taxes - - (225) (5,191) - - (5,416) Revenues from sales 5,830 9,598 26,997 14,284 39 (15,115) 41,633 Operating expenses (5,103) (4,284) (25,646) (13,434) (207) 15,115 (33,559) Depreciation, depletion and impairment of tangible assets and mineral interests (291) (2,134) (396) (271) (29) - (3,121) Operating income 436 3,180 955 579 (197) - 4,953 Net income (loss) from equity affiliates and other items 419 (1,243) 123 57 23 - (621) Tax on net operating income (56) (1,195) (281) (176) 16 - (1,692) Net operating income 799 742 797 460 (158) - 2,640 Net cost of net debt (341) Non-controlling interests (93) Net income - TotalEnergies share 2,206 2 nd quarter 2021 (adjustments) (a) Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales (9) - - - - - (9) Intersegment sales - - - - - - - Excise taxes - - - - - - - Revenues from sales (9) - - - - - (9) Operating expenses (54) (23) 386 71 - - 380 Depreciation, depletion and impairment of tangible assets and mineral interests (3) - (13) - - - (16) Operating income (b) (66) (23) 373 71 - - 355 Net income (loss) from equity affiliates and other items (47) (1,436) 22 (8) (22) - (1,491) Tax on net operating income 21 (12) (109) (20) - - (120) Net operating income (b) (92) (1,471) 286 43 (22) - (1,256) Net cost of net debt 4 Non-controlling interests (5) Net income - TotalEnergies share (1,257) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect - On operating income - - 394 69 - - On net operating income - - 331 50 - 2 nd quarter 2021 (adjusted) Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 5,095 1,743 20,853 19,367 - - 47,058 Intersegment sales 744 7,855 6,369 108 39 (15,115) - Excise taxes - - (225) (5,191) - - (5,416) Revenues from sales 5,839 9,598 26,997 14,284 39 (15,115) 41,642 Operating expenses (5,049) (4,261) (26,032) (13,505) (207) 15,115 (33,939) Depreciation, depletion and impairment of tangible assets and mineral interests (288) (2,134) (383) (271) (29) - (3,105) Adjusted operating income 502 3,203 582 508 (197) - 4,598 Net income (loss) from equity affiliates and other items 466 193 101 65 45 - 870 Tax on net operating income (77) (1,183) (172) (156) 16 - (1,572) Adjusted net operating income 891 2,213 511 417 (136) - 3,896 Net cost of net debt (345) Non-controlling interests (88) Adjusted net income - TotalEnergies share 3,463 2 nd quarter 2021 Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total Total expenditures 1,167 1,830 291 222 22 3,532 Total divestments 310 63 13 36 6 428 Cash flow from operating activities 567 4,835 2,232 437 (520) 7,551 3.2) Reconciliation of the information by business segment with consolidated financial statements Consolidated 1 st half 2022 statement of (M$) Adjusted Adjustments (a) income Sales 143,383 (3) 143,380 Excise taxes (8,985) - (8,985) Revenues from sales 134,398 (3) 134,395 Purchases net of inventory variation (86,785) 1,694 (85,091) Other operating expenses (15,029) (635) (15,664) Exploration costs (253) (725) (978) Depreciation, depletion and impairment of tangible assets and mineral interests (6,186) (595) (6,781) Other income 550 22 572 Other expense (798) (2,797) (3,595) Financial interest on debt (1,034) - (1,034) Financial income and expense from cash & cash equivalents 189 270 459 Cost of net debt (845) 270 (575) Other financial income 350 84 434 Other financial expense (271) - (271) Net income (loss) from equity affiliates 3,805 (5,308) (1,503) Income taxes (9,998) (90) (10,088) Consolidated net income 18,938 (8,083) 10,855 TotalEnergies share 18,773 (8,137) 10,636 Non-controlling interests 165 54 219 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 1 st half 2021 statement of (M$) Adjusted Adjustments (a) income Sales 90,830 (44) 90,786 Excise taxes (10,520) - (10,520) Revenues from sales 80,310 (44) 80,266 Purchases net of inventory variation (51,397) 1,280 (50,117) Other operating expenses (13,576) (21) (13,597) Exploration costs (290) - (290) Depreciation, depletion and impairment of tangible assets and mineral interests (6,285) (161) (6,446) Other income 554 27 581 Other expense (334) (623) (957) Financial interest on debt (967) - (967) Financial income and expense from cash & cash equivalents 156 16 172 Cost of net debt (811) 16 (795) Other financial income 374 - 374 Other financial expense (261) - (261) Net income (loss) from equity affiliates 1,260 (1,059) 201 Income taxes (2,931) (317) (3,248) Consolidated net income 6,613 (902) 5,711 TotalEnergies share 6,466 (916) 5,550 Non-controlling interests 147 14 161 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 2 nd quarter 2022 statement (M$) Adjusted Adjustments (a) of income Sales 74,789 (15) 74,774 Excise taxes (4,329) - (4,329) Revenues from sales 70,460 (15) 70,445 Purchases net of inventory variation (46,023) 580 (45,443) Other operating expenses (7,620) (421) (8,041) Exploration costs (117) - (117) Depreciation, depletion and impairment of tangible assets and mineral interests (3,038) (64) (3,102) Other income 429 - 429 Other expense (529) (776) (1,305) Financial interest on debt (572) - (572) Financial income and expense from cash & cash equivalents 130 115 245 Cost of net debt (442) 115 (327) Other financial income 231 - 231 Other financial expense (136) - (136) Net income (loss) from equity affiliates 1,944 (3,490) (1,546) Income taxes (5,274) (10) (5,284) Consolidated net income 9,885 (4,081) 5,804 TotalEnergies share 9,796 (4,104) 5,692 Non-controlling interests 89 23 112 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 2 nd quarter 2021 statement (M$) Adjusted Adjustments (a) of income Sales 47,058 (9) 47,049 Excise taxes (5,416) - (5,416) Revenues from sales 41,642 (9) 41,633 Purchases net of inventory variation (27,108) 389 (26,719) Other operating expenses (6,708) (9) (6,717) Exploration costs (123) - (123) Depreciation, depletion and impairment of tangible assets and mineral interests (3,105) (16) (3,121) Other income 138 85 223 Other expense (142) (156) (298) Financial interest on debt (501) - (501) Financial income and expense from cash & cash equivalents 69 8 77 Cost of net debt (432) 8 (424) Other financial income 265 - 265 Other financial expense (131) - (131) Net income (loss) from equity affiliates 740 (1,420) (680) Income taxes (1,485) (124) (1,609) Consolidated net income 3,551 (1,252) 2,299 TotalEnergies share 3,463 (1,257) 2,206 Non-controlling interests 88 5 93 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. 3.3) Adjustment items The main adjustment items in the first half of 2022 are the following exceptional impairments and provisions related to the Russian-Ukrainian conflict: ● In the first quarter , an impairment of $(4,095) million in net result concerning notably Arctic LNG 2. ● In the second quarter, an impairment of $(3,513) million in net result related to the potential impact of international sanctions on the value of Novatek stake. The detail of the adjustment items is presented in the table below. ADJUSTMENTS TO OPERATING INCOME Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Total 2 nd quarter 2022 Inventory valuation effect - - 775 376 - 1,151 Effect of changes in fair value (597) - - - - (597) Restructuring charges (17) - - - - (17) Asset impairment and provisions charges (18) (46) - 4 - (60) Other items (3) (82) - (11) (301) (397) Total (635) (128) 775 369 (301) 80 2 nd quarter 2021 Inventory valuation effect - - 394 69 - 463 Effect of changes in fair value (49) - - - - (49) Restructuring charges (1) - (8) - - (9) Asset impairment and provisions charges (3) - (13) - - (16) Other items (13) (23) - 2 - (34) Total (66) (23) 373 71 - 355 1 st half 2022 Inventory valuation effect - - 1,722 684 - 2,406 Effect of changes in fair value (685) - - - - (685) Restructuring charges (22) - - - - (22) Asset impairment and provisions charges (18) (1,330) - (65) (9) (1,422) Other items (15) (82) - (11) (433) (541) Total (740) (1,412) 1,722 608 (442) (264) 1 st half 2021 Inventory valuation effect - - 1,140 206 - 1,346 Effect of changes in fair value (58) - - - - (58) Restructuring charges (10) - (8) - - (18) Asset impairment and provisions charges (148) - (13) - - (161) Other items (38) (23) (1) 7 - (55) Total (254) (23) 1,118 213 - 1,054 ADJUSTMENTS TO NET INCOME, TotalEnergies SHARE Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Total 2 nd quarter 2022 Inventory valuation effect - - 738 255 - 993 Effect of changes in fair value (551) - - - - (551) Restructuring charges (8) - - - - (8) Asset impairment and provisions charges (226) (3,493) - - - (3,719) Gains (losses) on disposals of assets - - - - - - Other items (352) (286) - (8) (173) (819) Total (1,137) (3,779) 738 247 (173) (4,104) 2 nd quarter 2021 Inventory valuation effect - - 327 48 - 375 Effect of changes in fair value (44) - - - - (44) Restructuring charges (4) (44) (32) (8) (22) (110) Asset impairment and provisions charges (36) - (13) - - (49) Gains (losses) on disposals of assets - (1,379) * - - - (1,379) Other items (7) (44) - 1 - (50) Total (91) (1,467) 282 41 (22) (1,257) * Impact of the TotalEnergies' interest sale of Petrocedeño to PDVSA. 1 st half 2022 Inventory valuation effect - - 1,573 460 - 2,033 Effect of changes in fair value (631) - - - - (631) Restructuring charges (11) - - - - (11) Asset impairment and provisions charges (4,174) (4,525) - (72) (9) (8,780) Gains (losses) on disposals of assets - - - - - - Other items (352) (272) (32) (8) (84) (748) Total (5,168) (4,797) 1,541 380 (93) (8,137) 1 st half 2021 Inventory valuation effect - - 926 138 - 1,064 Effect of changes in fair value (50) - - - - (50) Restructuring charges (12) (85) (71) (43) (60) (271) Asset impairment and provisions charges (180) - (13) - - (193) Gains (losses) on disposals of assets - (1,379) * - - - (1,379) Other items (42) (41) (9) 5 - (87) Total (284) (1,505) 833 100 (60) (916) * Impact of the TotalEnergies' interest sale of Petrocedeño to PDVSA. |
Shareholders' equity
Shareholders' equity | 6 Months Ended |
Jun. 30, 2022 | |
Shareholders' equity | |
Shareholders' equity | 4) Shareholders’ equity Treasury shares (TotalEnergies shares held directly by TotalEnergies SE) December 31, 2021 June 30, 2022 Number of treasury shares 33,841,104 55,465,917 Percentage of share capital 1.28% 2.12% Of which shares acquired with the intention to cancel them 30,665,526 55,260,084 Of which shares allocated to TotalEnergies share performance plans for Company employees 3,103,018 99,850 Of which shares intended to be allocated to new share performance or purchase options plans 72,560 105,983 Dividend The Shareholders’ meeting of May 25, 2022 approved the distribution of a dividend of 2.64 euros per share for the 2021 fiscal year and the payment of a final dividend of 0.66 euro per share given the three interim dividends that had already been paid. The dividend for fiscal year 2021 was paid according to the following timetable: Dividend 2021 First interim Second interim Third interim Final Amount €0.66 €0.66 €0.66 €0.66 Set date April 28, 2021 July 28, 2021 October 27, 2021 May 25, 2022 Ex-dividend date September 21, 2021 January 3, 2022 March 22, 2022 June 21, 2022 Payment date October 1, 2021 January 13, 2022 April 1, 2022 July 1, 2022 The Board of Directors of April 27, 2022 decided to increase interim dividends by 5% and consequently set the first interim dividend for the fiscal year 2022 at €0.69 per share. The ex-dividend date of this interim dividend will be September 21, 2022 and it will be paid in cash on October 3, 2022. Furthermore, the Board of Directors of July 27, 2022 decided to set the amount of the second interim dividend for the 2022 fiscal year at 0.69 euro per share, i.e an amount equal to the aforementioned first interim dividend. The ex-dividend date of the second interim dividend will be January 2, 2023 and it will be paid in cash on January 12, 2023. Dividend 2022 First interim Second interim Amount € 0.69 € 0.69 Set date April 27, 2022 July 27, 2022 Ex-dividend date September 21, 2022 January 2, 2023 Payment date October 3, 2022 January 12, 2023 Earnings per share in Euro Earnings per share in Euro, calculated from the earnings per share in U.S. dollars converted at the average Euro/USD exchange rate for the period, amounted to € nd € st € nd € nd € st € nd Earnings per share are calculated after remuneration of perpetual subordinated notes. Perpetual subordinated notes On January 17, 2022, TotalEnergies SE issued perpetual subordinated notes: - Perpetual subordinated notes 2.000% callable in April 2027, or in anticipation in January 2027 ( € 1,000 million); and - Perpetual subordinated notes 3.250% callable in January 2037, or in anticipation in July 2036 ( € 750 million). On May 18, 2022, TotalEnergies SE fully reimbursed the residual nominal amount of €1,750 million of its perpetual subordinated notes 3.875% issued in May 2016, on their first call date. Other comprehensive income Detail of other comprehensive income is presented in the table below: (M$) 1 st half 2022 1 st half 2021 Actuarial gains and losses 204 449 Change in fair value of investments in equity instruments (17) 68 Tax effect (42) (154) Currency translation adjustment generated by the parent company (7,137) (2,934) Sub-total items not potentially reclassifiable to profit and loss (6,992) (2,571) Currency translation adjustment 3,535 1,777 - unrealized gain/(loss) of the period 3,532 1,898 - less gain/(loss) included in net income (3) 121 Cash flow hedge 2,959 80 - unrealized gain/(loss) of the period 2,901 (56) - less gain/(loss) included in net income (58) (136) Variation of foreign currency basis spread 70 (4) - unrealized gain/(loss) of the period 49 (29) - less gain/(loss) included in net income (21) (25) Share of other comprehensive income of equity affiliates, net amount 2,464 451 - unrealized gain/(loss) of the period 2,427 449 - less gain/(loss) included in net income (37) (2) Other (1) - Tax effect (1,059) (57) Sub-total items potentially reclassifiable to profit and loss 7,968 2,247 Total other comprehensive income (net amount) 976 (324) Tax effects relating to each component of other comprehensive income are as follows: 1 st half 2022 1 st half 2021 Pre-tax Pre-tax (M$) amount Tax effect Net amount amount Tax effect Net amount Actuarial gains and losses 204 (53) 151 449 (141) 308 Change in fair value of investments in equity instruments (17) 11 (6) 68 (13) 55 Currency translation adjustment generated by the parent company (7,137) - (7,137) (2,934) - (2,934) Sub-total items not potentially reclassifiable to profit and loss (6,950) (42) (6,992) (2,417) (154) (2,571) Currency translation adjustment 3,535 - 3,535 1,777 - 1,777 Cash flow hedge 2,959 (1,041) 1,918 80 (55) 25 Variation of foreign currency basis spread 70 (18) 52 (4) (2) (6) Share of other comprehensive income of equity affiliates, net amount 2,464 - 2,464 451 - 451 Other (1) - (1) - - - Sub-total items potentially reclassifiable to profit and loss 9,027 (1,059) 7,968 2,304 (57) 2,247 Total other comprehensive income 2,077 (1,101) 976 (113) (211) (324) |
Financial debt
Financial debt | 6 Months Ended |
Jun. 30, 2022 | |
Financial debt | |
Financial debt | 5) Financial debt The Company has not issued any new senior bond during the first six months of 2022. The Company reimbursed three senior bonds during the first six months of 2022: - - - On March 4, 2022, the Company put in place a committed syndicated credit line with banks for an amount of $8,000 million and with a 12-month tenor (with the option to extend its maturity twice by a further 6 months at TotalEnergies SE' hand). |
Related parties
Related parties | 6 Months Ended |
Jun. 30, 2022 | |
Related parties | |
Related parties | 6) Related parties The related parties are mainly equity affiliates and non-consolidated investments. There were no major changes concerning transactions with related parties during the first six months of 2022. The impact of the Russian-Ukrainian conflict on transactions with related parties in Russia is described in paragraph 7 Other risks and commitments. |
Other risks and contingent liab
Other risks and contingent liabilities | 6 Months Ended |
Jun. 30, 2022 | |
Other risks and contingent liabilities | |
Other risks and contingent liabilities | 7) Other risks and contingent liabilities TotalEnergies is not currently aware of any exceptional event, dispute, risks or contingent liabilities that could have a material impact on the assets and liabilities, results, financial position or operations of the TotalEnergies, other than those mentioned below. Yemen In Yemen, the deterioration of security conditions in the vicinity of the Balhaf site caused the company Yemen LNG, in which TotalEnergies holds a stake of 39.62%, to stop its commercial production and export of LNG and to declare force majeure to its various stakeholders in 2015. The plant has been put in preservation mode. Mozambique Considering the evolution of the security situation in the north of the Cabo Delgado province in Mozambique, TotalEnergies has confirmed on April 26, 2021, the withdrawal of all Mozambique LNG project personnel from the Afungi site. This situation led TotalEnergies, as operator of Mozambique LNG project, to declare force majeure. Russian-Ukrainian conflict Since the month of February 2022, Russia's invasion of Ukraine led European and American authorities to adopt several sets of sanctions measures targeting Russian and Belarusian persons and entities, as well as the financial sector. TotalEnergies holds investments in this country in major LNG projects (Yamal LNG and Arctic LNG 2) both directly and through its holding in the company PAO Novatek, whose production and sale of LNG are not materially impacted by the sanctions adopted as of the date hereof. Depending on the developments of the Russian-Ukrainian conflict and the measures that the European and American authorities could be required to take, the activities of TotalEnergies in Russia could be affected in the future. TotalEnergies announced on March 1, 2022, that it condemned Russia's military aggression against Ukraine, and that sanctions will be implemented by the Company regardless of the consequences on its asset management. On March 22, 2022, TotalEnergies announced that, given the uncertainty created by the technological and financial sanctions on the ability to carry out the Arctic LNG 2 project currently under construction and their probable tightening with the worsening conflict, TotalEnergies SE had decided to no longer book proved reserves for the Arctic LNG 2 project. Since then, on April 8, 2022, new sanctions have effectively been adopted by the European authorities, notably prohibiting export from European Union countries of goods and technology for use in the liquefaction of natural gas benefitting a Russian company. It appears that these new prohibitions constitute additional risks on the execution of the Arctic LNG 2 project. As a result, TotalEnergies recorded, in its accounts as of March 31, 2022, an impairment of $(4,095) million, concerning notably Arctic LNG 2. As of June 30, 2022, TotalEnergies recorded in its accounts a new $(3,513) million impairment charge related mainly to the potential impact of international sanctions on the value of its Novatek stake. In this context, indications of impairment were identified, and an impairment test to determine the value in use based on future cash flows was performed, taking into account assumptions reflecting the impact of sanctions on future cash flows. The table below presents the contribution of Russian assets to the key income and cash flow indicators: Russian Upstream Assets (M$) 2 nd quarter 2022 1 st quarter 2022 1 st half 2022 2021 Adjusted net operating income 707 1,021 1,727 2,092 Operating cash flow before working capital changes 1 857 288 1,144 1,613 Capital Employed 2 1 2 . |
Subsequent events
Subsequent events | 6 Months Ended |
Jun. 30, 2022 | |
Subsequent events | |
Subsequent events | 8) Subsequent events There are no post-balance sheet events that could have a material impact on the Company’s financial statements. |
Basis of preparation of the c_2
Basis of preparation of the consolidated financial statements (Policies) | 6 Months Ended |
Jun. 30, 2022 | |
Basis of preparation of the consolidated financial statements | |
Accounting principles applied in the interim financial statements | The accounting principles applied for the consolidated financial statements at June 30, 2022, are consistent with those used for the financial statements at December 31, 2021. Since January 1, 2020, the Company has early adopted the amendments to IFRS 7 and IFRS 9 relating to the interest rate benchmark reform phase II. In particular, these amendments allow to maintain the hedge accounting qualification of interest rate derivatives. |
Business segment information (T
Business segment information (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Business segment information | |
Schedule of information by business segment | 1 st half 2022 Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 22,575 4,672 66,069 50,056 8 - 143,380 Intersegment sales 3,360 27,623 22,062 983 133 (54,161) - Excise taxes - - (378) (8,607) - - (8,985) Revenues from sales 25,935 32,295 87,753 42,432 141 (54,161) 134,395 Operating expenses (22,629) (11,468) (80,653) (40,294) (850) 54,161 (101,733) Depreciation, depletion and impairment of tangible assets and mineral interests (648) (4,773) (769) (514) (77) - (6,781) Operating income 2,658 16,054 6,331 1,624 (786) - 25,881 Net income (loss) from equity affiliates and other items (1,677) (3,426) 505 56 179 - (4,363) Tax on net operating income (554) (7,739) (1,391) (521) 97 - (10,108) Net operating income 427 4,889 5,445 1,159 (510) - 11,410 Net cost of net debt (555) Non-controlling interests (219) Net income - TotalEnergies share 10,636 1 st half 2022 (adjustments) (a) Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales (3) - - - - - (3) Intersegment sales - - - - - - - Excise taxes - - - - - - - Revenues from sales (3) - - - - - (3) Operating expenses (723) (873) 1,722 641 (433) - 334 Depreciation, depletion and impairment of tangible assets and mineral interests (14) (539) - (33) (9) - (595) Operating income (b) (740) (1,412) 1,722 608 (442) - (264) Net income (loss) from equity affiliates and other items (4,497) (3,770) 169 (7) 106 - (7,999) Tax on net operating income 58 337 (326) (180) 98 - (13) Net operating income (b) (5,179) (4,845) 1,565 421 (238) - (8,276) Net cost of net debt 193 Non-controlling interests (54) Net income - TotalEnergies share (8,137) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect - On operating income - - 1,722 684 - - On net operating income - - 1,597 503 - 1 st half 2022 (adjusted) Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 22,578 4,672 66,069 50,056 8 - 143,383 Intersegment sales 3,360 27,623 22,062 983 133 (54,161) - Excise taxes - - (378) (8,607) - - (8,985) Revenues from sales 25,938 32,295 87,753 42,432 141 (54,161) 134,398 Operating expenses (21,906) (10,595) (82,375) (40,935) (417) 54,161 (102,067) Depreciation, depletion and impairment of tangible assets and mineral interests (634) (4,234) (769) (481) (68) - (6,186) Adjusted operating income 3,398 17,466 4,609 1,016 (344) - 26,145 Net income (loss) from equity affiliates and other items 2,820 344 336 63 73 - 3,636 Tax on net operating income (612) (8,076) (1,065) (341) (1) - (10,095) Adjusted net operating income 5,606 9,734 3,880 738 (272) - 19,686 Net cost of net debt (748) Non-controlling interests (165) Adjusted net income - TotalEnergies share 18,773 1 st half 2022 Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total Total expenditures 2,311 6,099 561 428 34 9,433 Total divestments 1,481 346 83 151 12 2,073 Cash flow from operating activities 4,285 14,536 4,633 1,478 (1,031) 23,901 1 st half 2021 Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 10,588 3,257 40,054 36,880 7 - 90,786 Intersegment sales 1,555 14,433 11,890 186 68 (28,132) - Excise taxes - - (630) (9,890) - - (10,520) Revenues from sales 12,143 17,690 51,314 27,176 75 (28,132) 80,266 Operating expenses (10,321) (7,352) (48,579) (25,510) (374) 28,132 (64,004) Depreciation, depletion and impairment of tangible assets and mineral interests (762) (4,317) (787) (526) (54) - (6,446) Operating income 1,060 6,021 1,948 1,140 (353) - 9,816 Net income (loss) from equity affiliates and other items 682 (973) 211 23 (5) - (62) Tax on net operating income (157) (2,375) (561) (352) 54 - (3,391) Net operating income 1,585 2,673 1,598 811 (304) - 6,363 Net cost of net debt (652) Non-controlling interests (161) Net income - TotalEnergies share 5,550 1 st half 2021 (adjustments) (a) Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales (44) - - - - - (44) Intersegment sales - - - - - - - Excise taxes - - - - - - - Revenues from sales (44) - - - - - (44) Operating expenses (62) (23) 1,131 213 - - 1,259 Depreciation, depletion and impairment of tangible assets and mineral interests (148) - (13) - - - (161) Operating income (b) (254) (23) 1,118 213 - - 1,054 Net income (loss) from equity affiliates and other items (96) (1,482) 28 (43) (62) - (1,655) Tax on net operating income 59 (10) (302) (60) 2 - (311) Net operating income (b) (291) (1,515) 844 110 (60) - (912) Net cost of net debt 10 Non-controlling interests (14) Net income - TotalEnergies share (916) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect - On operating income - - 1,140 206 - - On net operating income - - 937 148 - 1 st half 2021 (adjusted) Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 10,632 3,257 40,054 36,880 7 - 90,830 Intersegment sales 1,555 14,433 11,890 186 68 (28,132) - Excise taxes - - (630) (9,890) - - (10,520) Revenues from sales 12,187 17,690 51,314 27,176 75 (28,132) 80,310 Operating expenses (10,259) (7,329) (49,710) (25,723) (374) 28,132 (65,263) Depreciation, depletion and impairment of tangible assets and mineral interests (614) (4,317) (774) (526) (54) - (6,285) Adjusted operating income 1,314 6,044 830 927 (353) - 8,762 Net income (loss) from equity affiliates and other items 778 509 183 66 57 - 1,593 Tax on net operating income (216) (2,365) (259) (292) 52 - (3,080) Adjusted net operating income 1,876 4,188 754 701 (244) - 7,275 Net cost of net debt (662) Non-controlling interests (147) Adjusted net income - TotalEnergies share 6,466 1 st half 2021 Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total Total expenditures 4,187 3,195 578 360 48 8,368 Total divestments 452 374 129 107 18 1,080 Cash flow from operating activities 1,347 8,571 3,228 1,102 (1,099) 13,149 2 nd quarter 2022 Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 10,281 2,521 35,061 26,907 4 - 74,774 Intersegment sales 1,889 13,805 12,785 716 70 (29,265) - Excise taxes - - (186) (4,143) - - (4,329) Revenues from sales 12,170 16,326 47,660 23,480 74 (29,265) 70,445 Operating expenses (10,997) (5,760) (43,242) (22,310) (557) 29,265 (53,601) Depreciation, depletion and impairment of tangible assets and mineral interests (327) (2,112) (389) (241) (33) - (3,102) Operating income 846 8,454 4,029 929 (516) - 13,742 Net income (loss) from equity affiliates and other items 823 (3,668) 349 98 71 - (2,327) Tax on net operating income (260) (3,876) (866) (296) (8) - (5,306) Net operating income 1,409 910 3,512 731 (453) - 6,109 Net cost of net debt (305) Non-controlling interests (112) Net income - TotalEnergies share 5,692 2 nd quarter 2022 (adjustments) (a) Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales (15) - - - - - (15) Intersegment sales - - - - - - - Excise taxes - - - - - - - Revenues from sales (15) - - - - - (15) Operating expenses (606) (82) 775 373 (301) - 159 Depreciation, depletion and impairment of tangible assets and mineral interests (14) (46) - (4) - - (64) Operating income (b) (635) (128) 775 369 (301) - 80 Net income (loss) from equity affiliates and other items (558) (3,756) 52 (4) - - (4,266) Tax on net operating income 47 75 (75) (100) 78 - 25 Net operating income (b) (1,146) (3,809) 752 265 (223) - (4,161) Net cost of net debt 80 Non-controlling interests (23) Net income - TotalEnergies share (4,104) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect - On operating income - - 775 376 - - On net operating income - - 752 275 - 2 nd quarter 2022 (adjusted) Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 10,296 2,521 35,061 26,907 4 - 74,789 Intersegment sales 1,889 13,805 12,785 716 70 (29,265) - Excise taxes - - (186) (4,143) - - (4,329) Revenues from sales 12,185 16,326 47,660 23,480 74 (29,265) 70,460 Operating expenses (10,391) (5,678) (44,017) (22,683) (256) 29,265 (53,760) Depreciation, depletion and impairment of tangible assets and mineral interests (313) (2,066) (389) (237) (33) - (3,038) Adjusted operating income 1,481 8,582 3,254 560 (215) - 13,662 Net income (loss) from equity affiliates and other items 1,381 88 297 102 71 - 1,939 Tax on net operating income (307) (3,951) (791) (196) (86) - (5,331) Adjusted net operating income 2,555 4,719 2,760 466 (230) - 10,270 Net cost of net debt (385) Non-controlling interests (89) Adjusted net income - TotalEnergies share 9,796 2 nd quarter 2022 Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total Total expenditures 872 4,128 333 288 25 5,646 Total divestments 466 63 56 72 7 664 Cash flow from operating activities 3,970 8,768 3,526 580 (560) 16,284 2 nd quarter 2021 Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 5,086 1,743 20,853 19,367 - - 47,049 Intersegment sales 744 7,855 6,369 108 39 (15,115) - Excise taxes - - (225) (5,191) - - (5,416) Revenues from sales 5,830 9,598 26,997 14,284 39 (15,115) 41,633 Operating expenses (5,103) (4,284) (25,646) (13,434) (207) 15,115 (33,559) Depreciation, depletion and impairment of tangible assets and mineral interests (291) (2,134) (396) (271) (29) - (3,121) Operating income 436 3,180 955 579 (197) - 4,953 Net income (loss) from equity affiliates and other items 419 (1,243) 123 57 23 - (621) Tax on net operating income (56) (1,195) (281) (176) 16 - (1,692) Net operating income 799 742 797 460 (158) - 2,640 Net cost of net debt (341) Non-controlling interests (93) Net income - TotalEnergies share 2,206 2 nd quarter 2021 (adjustments) (a) Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales (9) - - - - - (9) Intersegment sales - - - - - - - Excise taxes - - - - - - - Revenues from sales (9) - - - - - (9) Operating expenses (54) (23) 386 71 - - 380 Depreciation, depletion and impairment of tangible assets and mineral interests (3) - (13) - - - (16) Operating income (b) (66) (23) 373 71 - - 355 Net income (loss) from equity affiliates and other items (47) (1,436) 22 (8) (22) - (1,491) Tax on net operating income 21 (12) (109) (20) - - (120) Net operating income (b) (92) (1,471) 286 43 (22) - (1,256) Net cost of net debt 4 Non-controlling interests (5) Net income - TotalEnergies share (1,257) (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. (b) Of which inventory valuation effect - On operating income - - 394 69 - - On net operating income - - 331 50 - 2 nd quarter 2021 (adjusted) Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total External sales 5,095 1,743 20,853 19,367 - - 47,058 Intersegment sales 744 7,855 6,369 108 39 (15,115) - Excise taxes - - (225) (5,191) - - (5,416) Revenues from sales 5,839 9,598 26,997 14,284 39 (15,115) 41,642 Operating expenses (5,049) (4,261) (26,032) (13,505) (207) 15,115 (33,939) Depreciation, depletion and impairment of tangible assets and mineral interests (288) (2,134) (383) (271) (29) - (3,105) Adjusted operating income 502 3,203 582 508 (197) - 4,598 Net income (loss) from equity affiliates and other items 466 193 101 65 45 - 870 Tax on net operating income (77) (1,183) (172) (156) 16 - (1,572) Adjusted net operating income 891 2,213 511 417 (136) - 3,896 Net cost of net debt (345) Non-controlling interests (88) Adjusted net income - TotalEnergies share 3,463 2 nd quarter 2021 Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Intercompany Total Total expenditures 1,167 1,830 291 222 22 3,532 Total divestments 310 63 13 36 6 428 Cash flow from operating activities 567 4,835 2,232 437 (520) 7,551 |
Schedule of reconciliation of the information by business segment with consolidated financial statements | Consolidated 1 st half 2022 statement of (M$) Adjusted Adjustments (a) income Sales 143,383 (3) 143,380 Excise taxes (8,985) - (8,985) Revenues from sales 134,398 (3) 134,395 Purchases net of inventory variation (86,785) 1,694 (85,091) Other operating expenses (15,029) (635) (15,664) Exploration costs (253) (725) (978) Depreciation, depletion and impairment of tangible assets and mineral interests (6,186) (595) (6,781) Other income 550 22 572 Other expense (798) (2,797) (3,595) Financial interest on debt (1,034) - (1,034) Financial income and expense from cash & cash equivalents 189 270 459 Cost of net debt (845) 270 (575) Other financial income 350 84 434 Other financial expense (271) - (271) Net income (loss) from equity affiliates 3,805 (5,308) (1,503) Income taxes (9,998) (90) (10,088) Consolidated net income 18,938 (8,083) 10,855 TotalEnergies share 18,773 (8,137) 10,636 Non-controlling interests 165 54 219 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 1 st half 2021 statement of (M$) Adjusted Adjustments (a) income Sales 90,830 (44) 90,786 Excise taxes (10,520) - (10,520) Revenues from sales 80,310 (44) 80,266 Purchases net of inventory variation (51,397) 1,280 (50,117) Other operating expenses (13,576) (21) (13,597) Exploration costs (290) - (290) Depreciation, depletion and impairment of tangible assets and mineral interests (6,285) (161) (6,446) Other income 554 27 581 Other expense (334) (623) (957) Financial interest on debt (967) - (967) Financial income and expense from cash & cash equivalents 156 16 172 Cost of net debt (811) 16 (795) Other financial income 374 - 374 Other financial expense (261) - (261) Net income (loss) from equity affiliates 1,260 (1,059) 201 Income taxes (2,931) (317) (3,248) Consolidated net income 6,613 (902) 5,711 TotalEnergies share 6,466 (916) 5,550 Non-controlling interests 147 14 161 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 2 nd quarter 2022 statement (M$) Adjusted Adjustments (a) of income Sales 74,789 (15) 74,774 Excise taxes (4,329) - (4,329) Revenues from sales 70,460 (15) 70,445 Purchases net of inventory variation (46,023) 580 (45,443) Other operating expenses (7,620) (421) (8,041) Exploration costs (117) - (117) Depreciation, depletion and impairment of tangible assets and mineral interests (3,038) (64) (3,102) Other income 429 - 429 Other expense (529) (776) (1,305) Financial interest on debt (572) - (572) Financial income and expense from cash & cash equivalents 130 115 245 Cost of net debt (442) 115 (327) Other financial income 231 - 231 Other financial expense (136) - (136) Net income (loss) from equity affiliates 1,944 (3,490) (1,546) Income taxes (5,274) (10) (5,284) Consolidated net income 9,885 (4,081) 5,804 TotalEnergies share 9,796 (4,104) 5,692 Non-controlling interests 89 23 112 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. Consolidated 2 nd quarter 2021 statement (M$) Adjusted Adjustments (a) of income Sales 47,058 (9) 47,049 Excise taxes (5,416) - (5,416) Revenues from sales 41,642 (9) 41,633 Purchases net of inventory variation (27,108) 389 (26,719) Other operating expenses (6,708) (9) (6,717) Exploration costs (123) - (123) Depreciation, depletion and impairment of tangible assets and mineral interests (3,105) (16) (3,121) Other income 138 85 223 Other expense (142) (156) (298) Financial interest on debt (501) - (501) Financial income and expense from cash & cash equivalents 69 8 77 Cost of net debt (432) 8 (424) Other financial income 265 - 265 Other financial expense (131) - (131) Net income (loss) from equity affiliates 740 (1,420) (680) Income taxes (1,485) (124) (1,609) Consolidated net income 3,551 (1,252) 2,299 TotalEnergies share 3,463 (1,257) 2,206 Non-controlling interests 88 5 93 (a) Adjustments include special items, inventory valuation effect and the effect of changes in fair value. |
Schedule of detail of the adjustment items | Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Total 2 nd quarter 2022 Inventory valuation effect - - 775 376 - 1,151 Effect of changes in fair value (597) - - - - (597) Restructuring charges (17) - - - - (17) Asset impairment and provisions charges (18) (46) - 4 - (60) Other items (3) (82) - (11) (301) (397) Total (635) (128) 775 369 (301) 80 2 nd quarter 2021 Inventory valuation effect - - 394 69 - 463 Effect of changes in fair value (49) - - - - (49) Restructuring charges (1) - (8) - - (9) Asset impairment and provisions charges (3) - (13) - - (16) Other items (13) (23) - 2 - (34) Total (66) (23) 373 71 - 355 1 st half 2022 Inventory valuation effect - - 1,722 684 - 2,406 Effect of changes in fair value (685) - - - - (685) Restructuring charges (22) - - - - (22) Asset impairment and provisions charges (18) (1,330) - (65) (9) (1,422) Other items (15) (82) - (11) (433) (541) Total (740) (1,412) 1,722 608 (442) (264) 1 st half 2021 Inventory valuation effect - - 1,140 206 - 1,346 Effect of changes in fair value (58) - - - - (58) Restructuring charges (10) - (8) - - (18) Asset impairment and provisions charges (148) - (13) - - (161) Other items (38) (23) (1) 7 - (55) Total (254) (23) 1,118 213 - 1,054 ADJUSTMENTS TO NET INCOME, TotalEnergies SHARE Integrated Gas, Exploration Refining Marketing Renewables & & & (M$) & Power Production Chemicals Services Corporate Total 2 nd quarter 2022 Inventory valuation effect - - 738 255 - 993 Effect of changes in fair value (551) - - - - (551) Restructuring charges (8) - - - - (8) Asset impairment and provisions charges (226) (3,493) - - - (3,719) Gains (losses) on disposals of assets - - - - - - Other items (352) (286) - (8) (173) (819) Total (1,137) (3,779) 738 247 (173) (4,104) 2 nd quarter 2021 Inventory valuation effect - - 327 48 - 375 Effect of changes in fair value (44) - - - - (44) Restructuring charges (4) (44) (32) (8) (22) (110) Asset impairment and provisions charges (36) - (13) - - (49) Gains (losses) on disposals of assets - (1,379) * - - - (1,379) Other items (7) (44) - 1 - (50) Total (91) (1,467) 282 41 (22) (1,257) * Impact of the TotalEnergies' interest sale of Petrocedeño to PDVSA. 1 st half 2022 Inventory valuation effect - - 1,573 460 - 2,033 Effect of changes in fair value (631) - - - - (631) Restructuring charges (11) - - - - (11) Asset impairment and provisions charges (4,174) (4,525) - (72) (9) (8,780) Gains (losses) on disposals of assets - - - - - - Other items (352) (272) (32) (8) (84) (748) Total (5,168) (4,797) 1,541 380 (93) (8,137) 1 st half 2021 Inventory valuation effect - - 926 138 - 1,064 Effect of changes in fair value (50) - - - - (50) Restructuring charges (12) (85) (71) (43) (60) (271) Asset impairment and provisions charges (180) - (13) - - (193) Gains (losses) on disposals of assets - (1,379) * - - - (1,379) Other items (42) (41) (9) 5 - (87) Total (284) (1,505) 833 100 (60) (916) * Impact of the TotalEnergies' interest sale of Petrocedeño to PDVSA. |
Shareholders' equity (Tables)
Shareholders' equity (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Shareholders' equity | |
Schedule of treasury shares held | December 31, 2021 June 30, 2022 Number of treasury shares 33,841,104 55,465,917 Percentage of share capital 1.28% 2.12% Of which shares acquired with the intention to cancel them 30,665,526 55,260,084 Of which shares allocated to TotalEnergies share performance plans for Company employees 3,103,018 99,850 Of which shares intended to be allocated to new share performance or purchase options plans 72,560 105,983 |
Schedule of information about dividends paid | Dividend 2021 First interim Second interim Third interim Final Amount €0.66 €0.66 €0.66 €0.66 Set date April 28, 2021 July 28, 2021 October 27, 2021 May 25, 2022 Ex-dividend date September 21, 2021 January 3, 2022 March 22, 2022 June 21, 2022 Payment date October 1, 2021 January 13, 2022 April 1, 2022 July 1, 2022 Dividend 2022 First interim Second interim Amount € 0.69 € 0.69 Set date April 27, 2022 July 27, 2022 Ex-dividend date September 21, 2022 January 2, 2023 Payment date October 3, 2022 January 12, 2023 |
Detail of other comprehensive income | (M$) 1 st half 2022 1 st half 2021 Actuarial gains and losses 204 449 Change in fair value of investments in equity instruments (17) 68 Tax effect (42) (154) Currency translation adjustment generated by the parent company (7,137) (2,934) Sub-total items not potentially reclassifiable to profit and loss (6,992) (2,571) Currency translation adjustment 3,535 1,777 - unrealized gain/(loss) of the period 3,532 1,898 - less gain/(loss) included in net income (3) 121 Cash flow hedge 2,959 80 - unrealized gain/(loss) of the period 2,901 (56) - less gain/(loss) included in net income (58) (136) Variation of foreign currency basis spread 70 (4) - unrealized gain/(loss) of the period 49 (29) - less gain/(loss) included in net income (21) (25) Share of other comprehensive income of equity affiliates, net amount 2,464 451 - unrealized gain/(loss) of the period 2,427 449 - less gain/(loss) included in net income (37) (2) Other (1) - Tax effect (1,059) (57) Sub-total items potentially reclassifiable to profit and loss 7,968 2,247 Total other comprehensive income (net amount) 976 (324) Tax effects relating to each component of other comprehensive income are as follows: 1 st half 2022 1 st half 2021 Pre-tax Pre-tax (M$) amount Tax effect Net amount amount Tax effect Net amount Actuarial gains and losses 204 (53) 151 449 (141) 308 Change in fair value of investments in equity instruments (17) 11 (6) 68 (13) 55 Currency translation adjustment generated by the parent company (7,137) - (7,137) (2,934) - (2,934) Sub-total items not potentially reclassifiable to profit and loss (6,950) (42) (6,992) (2,417) (154) (2,571) Currency translation adjustment 3,535 - 3,535 1,777 - 1,777 Cash flow hedge 2,959 (1,041) 1,918 80 (55) 25 Variation of foreign currency basis spread 70 (18) 52 (4) (2) (6) Share of other comprehensive income of equity affiliates, net amount 2,464 - 2,464 451 - 451 Other (1) - (1) - - - Sub-total items potentially reclassifiable to profit and loss 9,027 (1,059) 7,968 2,304 (57) 2,247 Total other comprehensive income 2,077 (1,101) 976 (113) (211) (324) |
Other risks and contingent li_2
Other risks and contingent liabilities (Tables) | 6 Months Ended |
Jun. 30, 2022 | |
Other risks and contingent liabilities | |
Schedule of contribution of Russian assets to key income and cash flow indicators | Russian Upstream Assets (M$) 2 nd quarter 2022 1 st quarter 2022 1 st half 2022 2021 Adjusted net operating income 707 1,021 1,727 2,092 Operating cash flow before working capital changes 1 857 288 1,144 1,613 |
Basis of preparation of the c_3
Basis of preparation of the consolidated financial statements (Details) - USD ($) $ in Millions | Jun. 30, 2022 | Mar. 31, 2022 |
Arctic LNG 2 LLC | ||
Associates | ||
Impairment | $ (4,095) | |
Novatek | ||
Associates | ||
Impairment | $ (3,513) |
Changes in the Company struct_2
Changes in the Company structure - Main acquisitions and divestments (Details) home in Millions, $ in Millions | 3 Months Ended | 12 Months Ended | ||||||
Apr. 27, 2022 bbl / d | Apr. 26, 2022 bbl / d | Feb. 28, 2022 USD ($) home mi GW | Mar. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Feb. 28, 2022 km | Feb. 28, 2022 mi² | Feb. 28, 2022 km² | |
Myanmar | ||||||||
Main acquisitions and divestments | ||||||||
Asset impairments recorded in operating result | $ | $ (201) | |||||||
Asset impairments recorded in net result, TotalEnergies share | $ | $ (305) | |||||||
North Platte | ||||||||
Main acquisitions and divestments | ||||||||
Asset impairments recorded in net result, TotalEnergies share | $ | $ (957) | |||||||
Maritime lease area OCS-A 0538 | ||||||||
Main acquisitions and divestments | ||||||||
Consideration for development of an offshore wind farm | $ | $ 795 | |||||||
Percentage of development of an offshore wind farm | 100% | |||||||
Distance from coast | 47 | 87 | ||||||
Lease area | 132 | 341 | ||||||
Minimum generation capacity | GW | 3 | |||||||
Number of homes where power can be provided | home | 1 | |||||||
Pre-salt Atapu oil field | ||||||||
Main acquisitions and divestments | ||||||||
Production of project | bbl / d | 160,000 | |||||||
Pre-salt Atapu oil field | Forecast | ||||||||
Main acquisitions and divestments | ||||||||
Production of project | bbl / d | 350,000 | |||||||
Pre-salt Atapu oil field | Petrobras | ||||||||
Main acquisitions and divestments | ||||||||
Percentage of interest acquired | 22.50% | |||||||
Pre-salt Sepia oil field | ||||||||
Main acquisitions and divestments | ||||||||
Production of project | bbl / d | 180,000 | |||||||
Pre-salt Sepia oil field | Forecast | ||||||||
Main acquisitions and divestments | ||||||||
Production of project | bbl / d | 350,000 | |||||||
Pre-salt Sepia oil field | Petrobras | ||||||||
Main acquisitions and divestments | ||||||||
Percentage of interest acquired | 28% |
Business segment information -
Business segment information - Information by business segment (Details) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2022 USD ($) | Mar. 31, 2022 USD ($) | Jun. 30, 2021 USD ($) | Jun. 30, 2022 USD ($) segment | Jun. 30, 2021 USD ($) | |
Business segment information | |||||
Number of business segments | segment | 4 | ||||
Sales | $ 74,774 | $ 68,606 | $ 47,049 | $ 143,380 | $ 90,786 |
Excise taxes | (4,329) | (4,656) | (5,416) | (8,985) | (10,520) |
Revenues from sales | 70,445 | 63,950 | 41,633 | 134,395 | 80,266 |
Operating expenses | (53,601) | (33,559) | (101,733) | (64,004) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (3,102) | (3,679) | (3,121) | (6,781) | (6,446) |
Operating income | 13,742 | 4,953 | 25,881 | 9,816 | |
Net income (loss) from equity affiliates and other items | (2,327) | (621) | (4,363) | (62) | |
Tax on net operating income | (5,306) | (1,692) | (10,108) | (3,391) | |
Net operating income | 6,109 | 2,640 | 11,410 | 6,363 | |
Net cost of net debt | (305) | (341) | (555) | (652) | |
Non-controlling interests | (112) | (107) | (93) | (219) | (161) |
NET INCOME - TotalEnergies SHARE | 5,692 | 4,944 | 2,206 | 10,636 | 5,550 |
Total expenditures | 5,646 | 3,787 | 3,532 | 9,433 | 8,368 |
Total divestments | 664 | 1,409 | 428 | 2,073 | 1,080 |
Cash flow from operating activities | 16,284 | $ 7,617 | 7,551 | 23,901 | 13,149 |
Intercompany | |||||
Business segment information | |||||
Sales | (29,265) | (15,115) | (54,161) | (28,132) | |
Revenues from sales | (29,265) | (15,115) | (54,161) | (28,132) | |
Operating expenses | 29,265 | 15,115 | 54,161 | 28,132 | |
Integrated Gas, Renewables and Power | |||||
Business segment information | |||||
Sales | 10,281 | 5,086 | 22,575 | 10,588 | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (327) | (291) | (648) | (762) | |
Operating income | 846 | 436 | 2,658 | 1,060 | |
Net income (loss) from equity affiliates and other items | 823 | 419 | (1,677) | 682 | |
Tax on net operating income | (260) | (56) | (554) | (157) | |
Net operating income | 1,409 | 799 | 427 | 1,585 | |
Total expenditures | 872 | 1,167 | 2,311 | 4,187 | |
Total divestments | 466 | 310 | 1,481 | 452 | |
Cash flow from operating activities | 3,970 | 567 | 4,285 | 1,347 | |
Integrated Gas, Renewables and Power | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 12,170 | 5,830 | 25,935 | 12,143 | |
Operating expenses | (10,997) | (5,103) | (22,629) | (10,321) | |
Integrated Gas, Renewables and Power | Intercompany | |||||
Business segment information | |||||
Sales | (1,889) | (744) | (3,360) | (1,555) | |
Exploration & Production | |||||
Business segment information | |||||
Sales | 2,521 | 1,743 | 4,672 | 3,257 | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (2,112) | (2,134) | (4,773) | (4,317) | |
Operating income | 8,454 | 3,180 | 16,054 | 6,021 | |
Net income (loss) from equity affiliates and other items | (3,668) | (1,243) | (3,426) | (973) | |
Tax on net operating income | (3,876) | (1,195) | (7,739) | (2,375) | |
Net operating income | 910 | 742 | 4,889 | 2,673 | |
Total expenditures | 4,128 | 1,830 | 6,099 | 3,195 | |
Total divestments | 63 | 63 | 346 | 374 | |
Cash flow from operating activities | 8,768 | 4,835 | 14,536 | 8,571 | |
Exploration & Production | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 16,326 | 9,598 | 32,295 | 17,690 | |
Operating expenses | (5,760) | (4,284) | (11,468) | (7,352) | |
Exploration & Production | Intercompany | |||||
Business segment information | |||||
Sales | (13,805) | (7,855) | (27,623) | (14,433) | |
Refining & Chemicals | |||||
Business segment information | |||||
Sales | 35,061 | 20,853 | 66,069 | 40,054 | |
Excise taxes | (186) | (225) | (378) | (630) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (389) | (396) | (769) | (787) | |
Operating income | 4,029 | 955 | 6,331 | 1,948 | |
Net income (loss) from equity affiliates and other items | 349 | 123 | 505 | 211 | |
Tax on net operating income | (866) | (281) | (1,391) | (561) | |
Net operating income | 3,512 | 797 | 5,445 | 1,598 | |
Total expenditures | 333 | 291 | 561 | 578 | |
Total divestments | 56 | 13 | 83 | 129 | |
Cash flow from operating activities | 3,526 | 2,232 | 4,633 | 3,228 | |
Refining & Chemicals | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 47,660 | 26,997 | 87,753 | 51,314 | |
Operating expenses | (43,242) | (25,646) | (80,653) | (48,579) | |
Refining & Chemicals | Intercompany | |||||
Business segment information | |||||
Sales | (12,785) | (6,369) | (22,062) | (11,890) | |
Marketing & Services | |||||
Business segment information | |||||
Sales | 26,907 | 19,367 | 50,056 | 36,880 | |
Excise taxes | (4,143) | (5,191) | (8,607) | (9,890) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (241) | (271) | (514) | (526) | |
Operating income | 929 | 579 | 1,624 | 1,140 | |
Net income (loss) from equity affiliates and other items | 98 | 57 | 56 | 23 | |
Tax on net operating income | (296) | (176) | (521) | (352) | |
Net operating income | 731 | 460 | 1,159 | 811 | |
Total expenditures | 288 | 222 | 428 | 360 | |
Total divestments | 72 | 36 | 151 | 107 | |
Cash flow from operating activities | 580 | 437 | 1,478 | 1,102 | |
Marketing & Services | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 23,480 | 14,284 | 42,432 | 27,176 | |
Operating expenses | (22,310) | (13,434) | (40,294) | (25,510) | |
Marketing & Services | Intercompany | |||||
Business segment information | |||||
Sales | (716) | (108) | (983) | (186) | |
Corporate | |||||
Business segment information | |||||
Sales | 4 | 8 | 7 | ||
Depreciation, depletion and impairment of tangible assets and mineral interests | (33) | (29) | (77) | (54) | |
Operating income | (516) | (197) | (786) | (353) | |
Net income (loss) from equity affiliates and other items | 71 | 23 | 179 | (5) | |
Tax on net operating income | (8) | 16 | 97 | 54 | |
Net operating income | (453) | (158) | (510) | (304) | |
Total expenditures | 25 | 22 | 34 | 48 | |
Total divestments | 7 | 6 | 12 | 18 | |
Cash flow from operating activities | (560) | (520) | (1,031) | (1,099) | |
Corporate | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 74 | 39 | 141 | 75 | |
Operating expenses | (557) | (207) | (850) | (374) | |
Corporate | Intercompany | |||||
Business segment information | |||||
Sales | (70) | (39) | (133) | (68) | |
Adjustments | |||||
Business segment information | |||||
Sales | (15) | (9) | (3) | (44) | |
Revenues from sales | (15) | (9) | (3) | (44) | |
Operating expenses | 159 | 380 | 334 | 1,259 | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (64) | (16) | (595) | (161) | |
Operating income | 80 | 355 | (264) | 1,054 | |
Net income (loss) from equity affiliates and other items | (4,266) | (1,491) | (7,999) | (1,655) | |
Tax on net operating income | 25 | (120) | (13) | (311) | |
Net operating income | (4,161) | (1,256) | (8,276) | (912) | |
Net cost of net debt | 80 | 4 | 193 | 10 | |
Non-controlling interests | (23) | (5) | (54) | (14) | |
NET INCOME - TotalEnergies SHARE | (4,104) | (1,257) | (8,137) | (916) | |
Adjustments | Integrated Gas, Renewables and Power | |||||
Business segment information | |||||
Sales | (15) | (9) | (3) | (44) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (14) | (3) | (14) | (148) | |
Operating income | (635) | (66) | (740) | (254) | |
Net income (loss) from equity affiliates and other items | (558) | (47) | (4,497) | (96) | |
Tax on net operating income | 47 | 21 | 58 | 59 | |
Net operating income | (1,146) | (92) | (5,179) | (291) | |
NET INCOME - TotalEnergies SHARE | (1,137) | (91) | (5,168) | (284) | |
Adjustments | Integrated Gas, Renewables and Power | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | (15) | (9) | (3) | (44) | |
Operating expenses | (606) | (54) | (723) | (62) | |
Adjustments | Exploration & Production | |||||
Business segment information | |||||
Depreciation, depletion and impairment of tangible assets and mineral interests | (46) | (539) | |||
Operating income | (128) | (23) | (1,412) | (23) | |
Net income (loss) from equity affiliates and other items | (3,756) | (1,436) | (3,770) | (1,482) | |
Tax on net operating income | 75 | (12) | 337 | (10) | |
Net operating income | (3,809) | (1,471) | (4,845) | (1,515) | |
NET INCOME - TotalEnergies SHARE | (3,779) | (1,467) | (4,797) | (1,505) | |
Adjustments | Exploration & Production | Business segments and Corporate | |||||
Business segment information | |||||
Operating expenses | (82) | (23) | (873) | (23) | |
Adjustments | Refining & Chemicals | |||||
Business segment information | |||||
Depreciation, depletion and impairment of tangible assets and mineral interests | (13) | (13) | |||
Operating income | 775 | 373 | 1,722 | 1,118 | |
Net income (loss) from equity affiliates and other items | 52 | 22 | 169 | 28 | |
Tax on net operating income | (75) | (109) | (326) | (302) | |
Net operating income | 752 | 286 | 1,565 | 844 | |
NET INCOME - TotalEnergies SHARE | 738 | 282 | 1,541 | 833 | |
Adjustments | Refining & Chemicals | Business segments and Corporate | |||||
Business segment information | |||||
Operating expenses | 775 | 386 | 1,722 | 1,131 | |
Adjustments | Marketing & Services | |||||
Business segment information | |||||
Depreciation, depletion and impairment of tangible assets and mineral interests | (4) | (33) | |||
Operating income | 369 | 71 | 608 | 213 | |
Net income (loss) from equity affiliates and other items | (4) | (8) | (7) | (43) | |
Tax on net operating income | (100) | (20) | (180) | (60) | |
Net operating income | 265 | 43 | 421 | 110 | |
NET INCOME - TotalEnergies SHARE | 247 | 41 | 380 | 100 | |
Adjustments | Marketing & Services | Business segments and Corporate | |||||
Business segment information | |||||
Operating expenses | 373 | 71 | 641 | 213 | |
Adjustments | Corporate | |||||
Business segment information | |||||
Depreciation, depletion and impairment of tangible assets and mineral interests | (9) | ||||
Operating income | (301) | (442) | |||
Net income (loss) from equity affiliates and other items | (22) | 106 | (62) | ||
Tax on net operating income | 78 | 98 | 2 | ||
Net operating income | (223) | (22) | (238) | (60) | |
NET INCOME - TotalEnergies SHARE | (173) | (22) | (93) | (60) | |
Adjustments | Corporate | Business segments and Corporate | |||||
Business segment information | |||||
Operating expenses | (301) | (433) | |||
Adjustments - Inventory valuation effect | |||||
Business segment information | |||||
Operating income | 1,151 | 463 | 2,406 | 1,346 | |
NET INCOME - TotalEnergies SHARE | 993 | 375 | 2,033 | 1,064 | |
Adjustments - Inventory valuation effect | Refining & Chemicals | |||||
Business segment information | |||||
Operating income | 775 | 394 | 1,722 | 1,140 | |
Net operating income | 752 | 331 | 1,597 | 937 | |
NET INCOME - TotalEnergies SHARE | 738 | 327 | 1,573 | 926 | |
Adjustments - Inventory valuation effect | Marketing & Services | |||||
Business segment information | |||||
Operating income | 376 | 69 | 684 | 206 | |
Net operating income | 275 | 50 | 503 | 148 | |
NET INCOME - TotalEnergies SHARE | 255 | 48 | 460 | 138 | |
ADJUSTED | |||||
Business segment information | |||||
Sales | 74,789 | 47,058 | 143,383 | 90,830 | |
Excise taxes | (4,329) | (5,416) | (8,985) | (10,520) | |
Revenues from sales | 70,460 | 41,642 | 134,398 | 80,310 | |
Operating expenses | (53,760) | (33,939) | (102,067) | (65,263) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (3,038) | (3,105) | (6,186) | (6,285) | |
Operating income | 13,662 | 4,598 | 26,145 | 8,762 | |
Net income (loss) from equity affiliates and other items | 1,939 | 870 | 3,636 | 1,593 | |
Tax on net operating income | (5,331) | (1,572) | (10,095) | (3,080) | |
Net operating income | 10,270 | 3,896 | 19,686 | 7,275 | |
Net cost of net debt | (385) | (345) | (748) | (662) | |
Non-controlling interests | (89) | (88) | (165) | (147) | |
NET INCOME - TotalEnergies SHARE | 9,796 | 3,463 | 18,773 | 6,466 | |
ADJUSTED | Intercompany | |||||
Business segment information | |||||
Sales | (29,265) | (15,115) | (54,161) | (28,132) | |
Revenues from sales | (29,265) | (15,115) | (54,161) | (28,132) | |
Operating expenses | 29,265 | 15,115 | 54,161 | 28,132 | |
ADJUSTED | Integrated Gas, Renewables and Power | |||||
Business segment information | |||||
Sales | 10,296 | 5,095 | 22,578 | 10,632 | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (313) | (288) | (634) | (614) | |
Operating income | 1,481 | 502 | 3,398 | 1,314 | |
Net income (loss) from equity affiliates and other items | 1,381 | 466 | 2,820 | 778 | |
Tax on net operating income | (307) | (77) | (612) | (216) | |
Net operating income | 2,555 | 891 | 5,606 | 1,876 | |
ADJUSTED | Integrated Gas, Renewables and Power | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 12,185 | 5,839 | 25,938 | 12,187 | |
Operating expenses | (10,391) | (5,049) | (21,906) | (10,259) | |
ADJUSTED | Integrated Gas, Renewables and Power | Intercompany | |||||
Business segment information | |||||
Sales | (1,889) | (744) | (3,360) | (1,555) | |
ADJUSTED | Exploration & Production | |||||
Business segment information | |||||
Sales | 2,521 | 1,743 | 4,672 | 3,257 | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (2,066) | (2,134) | (4,234) | (4,317) | |
Operating income | 8,582 | 3,203 | 17,466 | 6,044 | |
Net income (loss) from equity affiliates and other items | 88 | 193 | 344 | 509 | |
Tax on net operating income | (3,951) | (1,183) | (8,076) | (2,365) | |
Net operating income | 4,719 | 2,213 | 9,734 | 4,188 | |
ADJUSTED | Exploration & Production | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 16,326 | 9,598 | 32,295 | 17,690 | |
Operating expenses | (5,678) | (4,261) | (10,595) | (7,329) | |
ADJUSTED | Exploration & Production | Intercompany | |||||
Business segment information | |||||
Sales | (13,805) | (7,855) | (27,623) | (14,433) | |
ADJUSTED | Refining & Chemicals | |||||
Business segment information | |||||
Sales | 35,061 | 20,853 | 66,069 | 40,054 | |
Excise taxes | (186) | (225) | (378) | (630) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (389) | (383) | (769) | (774) | |
Operating income | 3,254 | 582 | 4,609 | 830 | |
Net income (loss) from equity affiliates and other items | 297 | 101 | 336 | 183 | |
Tax on net operating income | (791) | (172) | (1,065) | (259) | |
Net operating income | 2,760 | 511 | 3,880 | 754 | |
ADJUSTED | Refining & Chemicals | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 47,660 | 26,997 | 87,753 | 51,314 | |
Operating expenses | (44,017) | (26,032) | (82,375) | (49,710) | |
ADJUSTED | Refining & Chemicals | Intercompany | |||||
Business segment information | |||||
Sales | (12,785) | (6,369) | (22,062) | (11,890) | |
ADJUSTED | Marketing & Services | |||||
Business segment information | |||||
Sales | 26,907 | 19,367 | 50,056 | 36,880 | |
Excise taxes | (4,143) | (5,191) | (8,607) | (9,890) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (237) | (271) | (481) | (526) | |
Operating income | 560 | 508 | 1,016 | 927 | |
Net income (loss) from equity affiliates and other items | 102 | 65 | 63 | 66 | |
Tax on net operating income | (196) | (156) | (341) | (292) | |
Net operating income | 466 | 417 | 738 | 701 | |
ADJUSTED | Marketing & Services | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 23,480 | 14,284 | 42,432 | 27,176 | |
Operating expenses | (22,683) | (13,505) | (40,935) | (25,723) | |
ADJUSTED | Marketing & Services | Intercompany | |||||
Business segment information | |||||
Sales | (716) | (108) | (983) | (186) | |
ADJUSTED | Corporate | |||||
Business segment information | |||||
Sales | 4 | 8 | 7 | ||
Depreciation, depletion and impairment of tangible assets and mineral interests | (33) | (29) | (68) | (54) | |
Operating income | (215) | (197) | (344) | (353) | |
Net income (loss) from equity affiliates and other items | 71 | 45 | 73 | 57 | |
Tax on net operating income | (86) | 16 | (1) | 52 | |
Net operating income | (230) | (136) | (272) | (244) | |
ADJUSTED | Corporate | Business segments and Corporate | |||||
Business segment information | |||||
Revenues from sales | 74 | 39 | 141 | 75 | |
Operating expenses | (256) | (207) | (417) | (374) | |
ADJUSTED | Corporate | Intercompany | |||||
Business segment information | |||||
Sales | $ (70) | $ (39) | $ (133) | $ (68) |
Business segment information _2
Business segment information - Reconciliation with consolidated financial statements (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | |
Business segment information | ||||||
Sales | $ 74,774 | $ 68,606 | $ 47,049 | $ 143,380 | $ 90,786 | |
Excise taxes | (4,329) | (4,656) | (5,416) | (8,985) | (10,520) | |
Revenues from sales | 70,445 | 63,950 | 41,633 | 134,395 | 80,266 | |
Purchases, net of inventory variation | (45,443) | (39,648) | (26,719) | (85,091) | (50,117) | |
Other operating expenses | (8,041) | (7,623) | (6,717) | (15,664) | (13,597) | |
Exploration costs | (117) | (861) | (123) | (978) | (290) | |
Depreciation, depletion and impairment of tangible assets and mineral interests | (3,102) | (3,679) | (3,121) | (6,781) | (6,446) | |
Other income | 429 | 143 | 223 | 572 | 581 | |
Other expense | (1,305) | (2,290) | (298) | (3,595) | (957) | |
Financial interest on debt | (572) | (462) | (501) | (1,034) | (967) | |
Financial income and expense from cash & cash equivalents | 245 | 214 | 77 | 459 | 172 | |
Cost of net debt | (327) | (248) | (424) | (575) | (795) | |
Other financial income | 231 | 203 | 265 | 434 | 374 | |
Other financial expense | (136) | (135) | (131) | (271) | (261) | |
Net income (loss) from equity affiliates | (1,546) | 43 | (680) | (1,503) | 201 | |
Income taxes | (5,284) | (4,804) | (1,609) | (10,088) | (3,248) | |
Consolidated net income | 5,804 | 5,051 | 2,299 | 10,855 | $ 10,655 | 5,711 |
TotalEnergies share | 5,692 | 4,944 | 2,206 | 10,636 | 5,550 | |
Non-controlling interests | 112 | $ 107 | 93 | 219 | 161 | |
ADJUSTED | ||||||
Business segment information | ||||||
Sales | 74,789 | 47,058 | 143,383 | 90,830 | ||
Excise taxes | (4,329) | (5,416) | (8,985) | (10,520) | ||
Revenues from sales | 70,460 | 41,642 | 134,398 | 80,310 | ||
Purchases, net of inventory variation | (46,023) | (27,108) | (86,785) | (51,397) | ||
Other operating expenses | (7,620) | (6,708) | (15,029) | (13,576) | ||
Exploration costs | (117) | (123) | (253) | (290) | ||
Depreciation, depletion and impairment of tangible assets and mineral interests | (3,038) | (3,105) | (6,186) | (6,285) | ||
Other income | 429 | 138 | 550 | 554 | ||
Other expense | (529) | (142) | (798) | (334) | ||
Financial interest on debt | (572) | (501) | (1,034) | (967) | ||
Financial income and expense from cash & cash equivalents | 130 | 69 | 189 | 156 | ||
Cost of net debt | (442) | (432) | (845) | (811) | ||
Other financial income | 231 | 265 | 350 | 374 | ||
Other financial expense | (136) | (131) | (271) | (261) | ||
Net income (loss) from equity affiliates | 1,944 | 740 | 3,805 | 1,260 | ||
Income taxes | (5,274) | (1,485) | (9,998) | (2,931) | ||
Consolidated net income | 9,885 | 3,551 | 18,938 | 6,613 | ||
TotalEnergies share | 9,796 | 3,463 | 18,773 | 6,466 | ||
Non-controlling interests | 89 | 88 | 165 | 147 | ||
Adjustments | ||||||
Business segment information | ||||||
Sales | (15) | (9) | (3) | (44) | ||
Revenues from sales | (15) | (9) | (3) | (44) | ||
Purchases, net of inventory variation | 580 | 389 | 1,694 | 1,280 | ||
Other operating expenses | (421) | (9) | (635) | (21) | ||
Exploration costs | (725) | |||||
Depreciation, depletion and impairment of tangible assets and mineral interests | (64) | (16) | (595) | (161) | ||
Other income | 85 | 22 | 27 | |||
Other expense | (776) | (156) | (2,797) | (623) | ||
Financial income and expense from cash & cash equivalents | 115 | 8 | 270 | 16 | ||
Cost of net debt | 115 | 8 | 270 | 16 | ||
Other financial income | 84 | |||||
Net income (loss) from equity affiliates | (3,490) | (1,420) | (5,308) | (1,059) | ||
Income taxes | (10) | (124) | (90) | (317) | ||
Consolidated net income | (4,081) | (1,252) | (8,083) | (902) | ||
TotalEnergies share | (4,104) | (1,257) | (8,137) | (916) | ||
Non-controlling interests | $ 23 | $ 5 | $ 54 | $ 14 |
Business segment information _3
Business segment information - Adjustment items (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | |
Business segment information | |||||||
Operating income | $ 13,742 | $ 4,953 | $ 25,881 | $ 9,816 | |||
NET INCOME - TotalEnergies SHARE | 5,692 | $ 4,944 | 2,206 | 10,636 | 5,550 | ||
Arctic LNG 2 LLC | |||||||
Business segment information | |||||||
Impairment | $ (4,095) | ||||||
Novatek | |||||||
Business segment information | |||||||
Impairment | $ (3,513) | ||||||
Adjustments | |||||||
Business segment information | |||||||
Operating income | 80 | 355 | (264) | 1,054 | |||
NET INCOME - TotalEnergies SHARE | (4,104) | (1,257) | (8,137) | (916) | |||
Adjustments | Arctic LNG 2 LLC | |||||||
Business segment information | |||||||
Impairment | $ (4,095) | ||||||
Adjustments | Novatek | |||||||
Business segment information | |||||||
Impairment | (3,513) | ||||||
Adjustments - Inventory valuation effect | |||||||
Business segment information | |||||||
Operating income | 1,151 | 463 | 2,406 | 1,346 | |||
NET INCOME - TotalEnergies SHARE | 993 | 375 | 2,033 | 1,064 | |||
Adjustments - Effect of changes in fair value | |||||||
Business segment information | |||||||
Operating income | (597) | (49) | (685) | (58) | |||
NET INCOME - TotalEnergies SHARE | (551) | (44) | (631) | (50) | |||
Adjustments - Restructuring charges | |||||||
Business segment information | |||||||
Operating income | (17) | (9) | (22) | (18) | |||
NET INCOME - TotalEnergies SHARE | (8) | (110) | (11) | (271) | |||
Adjustments - Asset impairment charges | |||||||
Business segment information | |||||||
Operating income | (60) | (16) | (1,422) | (161) | |||
NET INCOME - TotalEnergies SHARE | (3,719) | (49) | (8,780) | (193) | |||
Adjustments - Gains (losses) on disposals of assets | |||||||
Business segment information | |||||||
NET INCOME - TotalEnergies SHARE | (1,379) | (1,379) | |||||
Adjustments - Other items | |||||||
Business segment information | |||||||
Operating income | (397) | (34) | (541) | (55) | |||
NET INCOME - TotalEnergies SHARE | (819) | (50) | (748) | (87) | |||
Integrated Gas, Renewables and Power | |||||||
Business segment information | |||||||
Operating income | 846 | 436 | 2,658 | 1,060 | |||
Integrated Gas, Renewables and Power | Adjustments | |||||||
Business segment information | |||||||
Operating income | (635) | (66) | (740) | (254) | |||
NET INCOME - TotalEnergies SHARE | (1,137) | (91) | (5,168) | (284) | |||
Integrated Gas, Renewables and Power | Adjustments - Effect of changes in fair value | |||||||
Business segment information | |||||||
Operating income | (597) | (49) | (685) | (58) | |||
NET INCOME - TotalEnergies SHARE | (551) | (44) | (631) | (50) | |||
Integrated Gas, Renewables and Power | Adjustments - Restructuring charges | |||||||
Business segment information | |||||||
Operating income | (17) | (1) | (22) | (10) | |||
NET INCOME - TotalEnergies SHARE | (8) | (4) | (11) | (12) | |||
Integrated Gas, Renewables and Power | Adjustments - Asset impairment charges | |||||||
Business segment information | |||||||
Operating income | (18) | (3) | (18) | (148) | |||
NET INCOME - TotalEnergies SHARE | (226) | (36) | (4,174) | (180) | |||
Integrated Gas, Renewables and Power | Adjustments - Other items | |||||||
Business segment information | |||||||
Operating income | (3) | (13) | (15) | (38) | |||
NET INCOME - TotalEnergies SHARE | (352) | (7) | (352) | (42) | |||
Exploration & Production | |||||||
Business segment information | |||||||
Operating income | 8,454 | 3,180 | 16,054 | 6,021 | |||
Exploration & Production | Adjustments | |||||||
Business segment information | |||||||
Operating income | (128) | (23) | (1,412) | (23) | |||
NET INCOME - TotalEnergies SHARE | (3,779) | (1,467) | (4,797) | (1,505) | |||
Exploration & Production | Adjustments - Restructuring charges | |||||||
Business segment information | |||||||
NET INCOME - TotalEnergies SHARE | (44) | (85) | |||||
Exploration & Production | Adjustments - Asset impairment charges | |||||||
Business segment information | |||||||
Operating income | (46) | (1,330) | |||||
NET INCOME - TotalEnergies SHARE | (3,493) | (4,525) | |||||
Exploration & Production | Adjustments - Gains (losses) on disposals of assets | |||||||
Business segment information | |||||||
NET INCOME - TotalEnergies SHARE | (1,379) | (1,379) | |||||
Exploration & Production | Adjustments - Other items | |||||||
Business segment information | |||||||
Operating income | (82) | (23) | (82) | (23) | |||
NET INCOME - TotalEnergies SHARE | (286) | (44) | (272) | (41) | |||
Refining & Chemicals | |||||||
Business segment information | |||||||
Operating income | 4,029 | 955 | 6,331 | 1,948 | |||
Refining & Chemicals | Adjustments | |||||||
Business segment information | |||||||
Operating income | 775 | 373 | 1,722 | 1,118 | |||
NET INCOME - TotalEnergies SHARE | 738 | 282 | 1,541 | 833 | |||
Refining & Chemicals | Adjustments - Inventory valuation effect | |||||||
Business segment information | |||||||
Operating income | 775 | 394 | 1,722 | 1,140 | |||
NET INCOME - TotalEnergies SHARE | 738 | 327 | 1,573 | 926 | |||
Refining & Chemicals | Adjustments - Restructuring charges | |||||||
Business segment information | |||||||
Operating income | (8) | (8) | |||||
NET INCOME - TotalEnergies SHARE | (32) | (71) | |||||
Refining & Chemicals | Adjustments - Asset impairment charges | |||||||
Business segment information | |||||||
Operating income | (13) | (13) | |||||
NET INCOME - TotalEnergies SHARE | (13) | (13) | |||||
Refining & Chemicals | Adjustments - Other items | |||||||
Business segment information | |||||||
Operating income | (1) | ||||||
NET INCOME - TotalEnergies SHARE | (32) | (9) | |||||
Marketing & Services | |||||||
Business segment information | |||||||
Operating income | 929 | 579 | 1,624 | 1,140 | |||
Marketing & Services | Adjustments | |||||||
Business segment information | |||||||
Operating income | 369 | 71 | 608 | 213 | |||
NET INCOME - TotalEnergies SHARE | 247 | 41 | 380 | 100 | |||
Marketing & Services | Adjustments - Inventory valuation effect | |||||||
Business segment information | |||||||
Operating income | 376 | 69 | 684 | 206 | |||
NET INCOME - TotalEnergies SHARE | 255 | 48 | 460 | 138 | |||
Marketing & Services | Adjustments - Restructuring charges | |||||||
Business segment information | |||||||
NET INCOME - TotalEnergies SHARE | (8) | (43) | |||||
Marketing & Services | Adjustments - Asset impairment charges | |||||||
Business segment information | |||||||
Operating income | 4 | (65) | |||||
NET INCOME - TotalEnergies SHARE | (72) | ||||||
Marketing & Services | Adjustments - Other items | |||||||
Business segment information | |||||||
Operating income | (11) | 2 | (11) | 7 | |||
NET INCOME - TotalEnergies SHARE | (8) | 1 | (8) | 5 | |||
Corporate | |||||||
Business segment information | |||||||
Operating income | (516) | (197) | (786) | (353) | |||
Corporate | Adjustments | |||||||
Business segment information | |||||||
Operating income | (301) | (442) | |||||
NET INCOME - TotalEnergies SHARE | (173) | (22) | (93) | (60) | |||
Corporate | Adjustments - Restructuring charges | |||||||
Business segment information | |||||||
NET INCOME - TotalEnergies SHARE | $ (22) | $ (60) | |||||
Corporate | Adjustments - Asset impairment charges | |||||||
Business segment information | |||||||
Operating income | (9) | ||||||
NET INCOME - TotalEnergies SHARE | (9) | ||||||
Corporate | Adjustments - Other items | |||||||
Business segment information | |||||||
Operating income | (301) | (433) | |||||
NET INCOME - TotalEnergies SHARE | $ (173) | $ (84) |
Shareholders' equity and share-
Shareholders' equity and share-based payments - Treasury shares (Details) - TotalEnergies SE - shares | Jun. 30, 2022 | Dec. 31, 2021 |
Shareholders' equity | ||
Number of treasury shares | 55,465,917 | 33,841,104 |
Percentage of share capital represented by treasury shares | 2.12% | 1.28% |
Shares to be cancelled | 55,260,084 | 30,665,526 |
TotalEnergies share performance plans | ||
Shareholders' equity | ||
Shares allocated or intended to be allocated to share-based payment plans | 99,850 | 3,103,018 |
New share performance or purchase options plans | ||
Shareholders' equity | ||
Shares allocated or intended to be allocated to share-based payment plans | 105,983 | 72,560 |
Shareholders' equity - Dividend
Shareholders' equity - Dividend (Details) - € / shares | Jul. 27, 2022 | Jul. 01, 2022 | May 25, 2022 | Apr. 27, 2022 | Apr. 01, 2022 | Jan. 13, 2022 | Oct. 01, 2021 |
Dividend | |||||||
Dividend approved for the 2021 fiscal year (in Euros per share) | € 2.64 | ||||||
Percentage of increase in interim dividend per share | 5% | ||||||
First interim | |||||||
Dividend | |||||||
Dividend paid (in Euros per share) | € 0.66 | ||||||
Interim dividend set by Board of Directors (in Euros per share) | € 0.69 | ||||||
Second interim | |||||||
Dividend | |||||||
Dividend paid (in Euros per share) | € 0.66 | ||||||
Interim dividend set by Board of Directors (in Euros per share) | € 0.69 | ||||||
Third interim | |||||||
Dividend | |||||||
Dividend paid (in Euros per share) | € 0.66 | ||||||
Final | |||||||
Dividend | |||||||
Dividend paid (in Euros per share) | € 0.66 |
Shareholders' equity - Earnings
Shareholders' equity - Earnings per share (Details) | 3 Months Ended | 6 Months Ended | ||||||
Jun. 30, 2022 $ / shares | Jun. 30, 2022 € / shares | Mar. 31, 2022 $ / shares | Mar. 31, 2022 € / shares | Jun. 30, 2021 $ / shares | Jun. 30, 2021 € / shares | Jun. 30, 2022 $ / shares | Jun. 30, 2021 $ / shares | |
Earnings per share in euros | ||||||||
Earnings per share (in dollars or Euros per share) | (per share) | $ 2.18 | € 2.03 | $ 1.87 | € 1.67 | $ 0.80 | € 0.66 | $ 4.04 | $ 2.04 |
Diluted earnings per share (in dollars or Euros per share) | (per share) | $ 2.16 | € 2.03 | $ 1.85 | € 1.65 | $ 0.80 | € 0.66 | $ 4.02 | $ 2.03 |
Shareholders' equity - Perpetua
Shareholders' equity - Perpetual subordinated notes (Details) - EUR (€) € in Thousands | May 18, 2022 | Jan. 17, 2022 |
Perpetual subordinated notes issued, 2.000%, callable April 2027 | ||
Shareholders' equity | ||
Interest rate (as percent) | 2% | |
Principal amount | € 1,000,000 | |
Perpetual subordinated notes issued, 3.250%, callable January 2037 | ||
Shareholders' equity | ||
Interest rate (as percent) | 3.25% | |
Principal amount | € 750,000 | |
Perpetual subordinated note, 3.875%, callable May 2022 | ||
Shareholders' equity | ||
Interest rate (as percent) | 3.875% | |
Reimbursement of residual amount | € 1,750 |
Shareholders' equity - Other co
Shareholders' equity - Other comprehensive income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | |
Shareholders' equity | ||||||
Actuarial gains and losses | $ 204 | $ 449 | $ 204 | $ 449 | ||
Change in fair value of investments in equity instruments | (20) | $ 3 | 56 | (17) | 68 | |
Tax effect | (53) | 11 | (142) | (42) | (154) | |
Currency translation adjustment generated by the parent company | (5,387) | (1,750) | 1,239 | (7,137) | (2,934) | |
Items not potentially reclassifiable to profit and loss | (5,256) | (1,736) | 1,602 | (6,992) | (2,571) | |
Currency translation adjustment | 2,523 | 1,012 | (746) | 3,535 | 1,777 | |
Unrealized gain/(loss) of the period | 3,532 | 1,898 | ||||
Less gain/(loss) included in net income | (3) | 121 | ||||
Cash flow hedge | 3,222 | (263) | (424) | 2,959 | 80 | |
Unrealized gain/(loss) of the period | 2,901 | (56) | ||||
Less gain/(loss) included in net income | (58) | (136) | ||||
Variation of foreign currency basis spread | 21 | 49 | (4) | 70 | (4) | |
unrealized gain/(loss) of the period | 49 | (29) | ||||
less gain/(loss) included in net income | (21) | (25) | ||||
Share of other comprehensive income of equity affiliates, net amount | 2,548 | (84) | (18) | 2,464 | 451 | |
Unrealized gain/(loss) of the period | 2,427 | 449 | ||||
Less gain/(loss) included in net income | (37) | (2) | ||||
Other | (1) | (1) | (1) | |||
Tax effect | (1,112) | 53 | 100 | (1,059) | (57) | |
Sub-total items potentially reclassifiable to profit and loss | 7,201 | 767 | (1,093) | 7,968 | 2,247 | |
TOTAL OTHER COMPREHENSIVE INCOME, NET AMOUNT | $ 1,945 | $ (969) | $ 509 | $ 976 | $ (1,122) | $ (324) |
Shareholders' equity - Tax effe
Shareholders' equity - Tax effects of other comprehensive income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Dec. 31, 2021 | Jun. 30, 2021 | |
Pre-tax amount | ||||||
Actuarial gains and losses | $ 204 | $ 449 | $ 204 | $ 449 | ||
Change in fair value of investments in equity instruments | (20) | $ 3 | 56 | (17) | 68 | |
Currency translation adjustment generated by the parent company | (7,137) | (2,934) | ||||
Sub-total items not potentially reclassifiable to profit and loss | (6,950) | (2,417) | ||||
Currency translation adjustment | 2,523 | 1,012 | (746) | 3,535 | 1,777 | |
Cash flow hedge | 3,222 | (263) | (424) | 2,959 | 80 | |
Variation of foreign currency basis spread | 21 | 49 | (4) | 70 | (4) | |
Share of other comprehensive income of equity affiliates, net amount | 2,464 | 451 | ||||
Other | (1) | (1) | (1) | |||
Sub-total items potentially reclassifiable to profit and loss | 9,027 | 2,304 | ||||
TOTAL OTHER COMPREHENSIVE INCOME | 2,077 | (113) | ||||
Tax effect | ||||||
Actuarial gains and losses | (53) | (141) | ||||
Change in fair value of investments in equity instruments | 11 | (13) | ||||
Sub-total items not potentially reclassifiable to profit and loss | (53) | 11 | (142) | (42) | (154) | |
Cash flow hedge | (1,041) | (55) | ||||
Variation of foreign currency basis spread | (18) | (2) | ||||
Sub-total items potential reclassifiable to profit and loss | (1,112) | 53 | 100 | (1,059) | (57) | |
TOTAL OTHER COMPREHENSIVE INCOME | (1,101) | (211) | ||||
Net amount | ||||||
Actuarial gains and losses | 151 | 308 | ||||
Change in fair value of investments in equity instruments | (6) | 55 | ||||
Currency translation adjustment generated by the parent company | (5,387) | (1,750) | 1,239 | (7,137) | (2,934) | |
Items not potentially reclassifiable to profit and loss | (5,256) | (1,736) | 1,602 | (6,992) | (2,571) | |
Currency translation adjustment | 3,535 | 1,777 | ||||
Cash flow hedge | 1,918 | 25 | ||||
Variation of foreign currency basis spread | 52 | (6) | ||||
Share of other comprehensive income of equity affiliates, net amount | 2,548 | (84) | (18) | 2,464 | 451 | |
Other | (1) | |||||
Items potentially reclassifiable to profit and loss | 7,201 | 767 | (1,093) | 7,968 | 2,247 | |
TOTAL OTHER COMPREHENSIVE INCOME, NET AMOUNT | $ 1,945 | $ (969) | $ 509 | $ 976 | $ (1,122) | $ (324) |
Financial debt (Details)
Financial debt (Details) € in Millions, £ in Millions, $ in Millions | 6 Months Ended | |||
Mar. 04, 2022 USD ($) | Jun. 30, 2022 USD ($) | Jun. 30, 2022 EUR (€) | Jun. 30, 2022 GBP (£) | |
Bond 2.875% issued in 2012 and maturing in February 2022 | TotalEnergies Capital International | ||||
Financial debt | ||||
Interest rate (as percent) | 2.875% | 2.875% | 2.875% | |
Amount of bonds reimbursed | $ 1,000 | |||
Bond 1.125% issued in 2014 and maturing in March 2022 | TotalEnergies Capital Canada Ltd | ||||
Financial debt | ||||
Interest rate (as percent) | 1.125% | 1.125% | 1.125% | |
Amount of bonds reimbursed | € | € 1,000 | |||
Bond 2.250% issued in 2015 and maturing in June 2022 | TotalEnergies Capital International | ||||
Financial debt | ||||
Interest rate (as percent) | 2.25% | 2.25% | 2.25% | |
Amount of bonds reimbursed | £ | £ 400 | |||
Syndicated credit line | ||||
Financial debt | ||||
Committed credit facilities granted by banks | $ 8,000 | |||
Borrowings term | 12 months | |||
Borrowings, period of extension option | 6 months |
Other risks and contingent li_3
Other risks and contingent liabilities (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | 12 Months Ended | |||||
Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jun. 30, 2021 | Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | |
Disclosure of contingent liabilities | ||||||||
Net operating income | $ 6,109 | $ 2,640 | $ 11,410 | $ 6,363 | ||||
Russia | ||||||||
Disclosure of contingent liabilities | ||||||||
Operating cash flow before working capital changes | 857 | $ 288 | 1,144 | $ 1,613 | ||||
Capital employed | $ 8,760 | 8,760 | 8,760 | |||||
Revaluation of capital employed | 2,066 | |||||||
ADJUSTED | ||||||||
Disclosure of contingent liabilities | ||||||||
Net operating income | 10,270 | $ 3,896 | 19,686 | $ 7,275 | ||||
ADJUSTED | Russia | ||||||||
Disclosure of contingent liabilities | ||||||||
Net operating income | $ 707 | $ 1,021 | $ 1,727 | $ 2,092 | ||||
Yemen LNG Company Limited | ||||||||
Disclosure of contingent liabilities | ||||||||
Stake held in associate (as a percent) | 39.62% | |||||||
Arctic LNG 2 LLC | ||||||||
Disclosure of contingent liabilities | ||||||||
Impairment | $ (4,095) | |||||||
Novatek | ||||||||
Disclosure of contingent liabilities | ||||||||
Impairment | $ (3,513) |